FTSE up 0.6% on QE talk

The FTSE 100 opened positively in a week set to be dominated by a slew of US economic and political news.

In early morning trading, the index had gained 0.6% or 33.78 points to 5,708.94.

This week's US agenda includes mid-term elections on Tuesday, while the Federal Reserve is expected to announce the resumption of quantitative easing (QE) on Wednesday. In addition, Friday sees the release of US non-farm payrolls data.

Closer to home, the Bank of England's Monetary Policy Committee (MPC) will be making its own announcement on interest rates and QE on Thursday.

Risers on the index included Smiths Group, up 1.85% to £12.14, while RBS advanced 1.84% to 45.43p.

Meanwhile, Weir Group was among the fallers despite announcing this morning it expects to beat full-year profit forecasts. Its shares declined 0.51% to £15.50.

On Wall Street on Friday, the Dow Jones was unchanged, up 0.04% or 4.54 points to 11,118.49.

Investors remained on the sidelines ahead of the mid-term elections and in anticipation the Federal Reserve will announce a second round of QE.

In Japan, the Nikkei 225 hit a seven-week closing low after disappointing results from the automotive sector.

The index closed down 0.52% or 47.73 points to 9,154.72

Honda Motor fell 5.04% to ¥2,789 after its forecast for full-year operating profit was below expectations.