FTSE 100 seen opening higher
The FTSE 100 is expected to open Wednesday's session around 10,906 points, with investors facing a packed agenda of market-moving events.
Semiconductor weakness and Middle East risks stay in focus
The ongoing sell-off in the global semiconductor sector remains a key source of uncertainty after technology shares suffered another sharp decline during Asian trading.
At the same time, renewed tensions in the Middle East are raising concerns over energy markets once again. Brent crude has climbed by around 5%, trading in the USD 86-87 per barrel range as geopolitical risks continue to intensify. Corporate earnings are also in focus following results from Standard Chartered, Rio Tinto and GSK.
Standard Chartered lifted by buyback plan
Standard Chartered delivered a strong set of quarterly results, following the positive tone set by Deutsche Bank earlier this week.
Investors responded particularly favourably to the bank's announcement of a GBP 1 billion share buyback programme, sending the shares higher in early trading.
Rio Tinto hits record high after results
Mining giant Rio Tinto also continued to attract buying interest after reporting quarterly results that exceeded market expectations.
The company reached a new record high after announcing stronger-than-expected operational performance, particularly in its copper business, alongside plans to increase its dividend. Both developments were well received by investors.
