Markets continue fight back on positive US data

The FTSE 100 is expected to extend gains made in the past few days after Asian and American markets climbed overnight on positive US economic data.

The blue chip index was indicating gains of around 0.5% in pre-trading, after a strong performance from overseas markets. The Hang Seng index rose 1.33% to 19,726.33 while the S&P 500 jumped 1.31% to close at 1,177.6. The Nikkei 225 was also up 1.54% to 8,772.36. The gains came after data from the US released yesterday showed orders for durable goods climbed more than forecast. US treasuries snapped three days of losses, Bloomberg reported, as investors weighed whether Federal Reserve chairman Ben Bernanke will signal further economic stimulus in a speech later today. However, f...