FTSE tipped to open modestly higher as metals prices rise

PRE-OPEN REPORT: Headline shares are tipped to open 12 to 17 points higher, according to financial websites, with rising metals prices setting the tone and Tesco and plumbing giant Wolseley updating on trading.

In the US last night, the Dow shed 20 points at 11,362, the Nasdaq Composite rose three points at 2,595 and the S&P500 lost two points at 1,223.

In Asia today, the Nikkei was last down 20 points at 10,147, while the Hang ended he morning ahead 131 points at 23,369.

Crude oil traded at £56.56 a barrel on Nymex and gold settled at £900.92 an ounce, while silver touched a 30-year high, topping £19.02 an ounce.

In the corporate diary today, interim results are due from Bglobal, Brulines Group, Daisy Group, Eredene Capital, Focus Solutions Group and NewRiver Retail.

Final results are scheduled from Andor Technology, Innovation Group, Pressure Technologies, Southern Cross Healthcare Group and Victrex.

Trading statements are expected from Bellway, Dolphin Capital Investors, Tesco and Wolseley while Artisan, Brookwell, DCD Media and Egdon Resources are among those hosting their AGMs.