Natural resources stocks are very much at the top of the board – oil prices are looking strong as hopes build that a deal can be cut next week at Opec to reign in production, whilst some quiet confidence over the economic outlook for China has also been bolstering iron ore prices in overnight trade.
The big item on the economic calendar today is the Autumn statement and despite the extensive briefings already given to the media, this still has the potential to throw off some further direction for individual equities as details over the latest support for house builders and news over minimum wage increases will hit specific sectors.
We also have a slew of US economic data being pushed out this afternoon ahead of the Thanksgiving break, although the key release here may well be the weekly oil inventory numbers as a notable draw here would help cement confidence that even a relatively modest cut by Opec members will be sufficient to prop up prices.
