FTSE seen opening higher

LONDON (Reuters) - The FTSE 100 <.FTSE> index is seen opening 28-31 points, or up to 0.7 percent higher on Tuesday, according to financial bookmakers, extending gains made in the previous session following strong advances overnight on Wall Street and in Asia.

However further progress will depend on the reaction to some major corporate news, notably full-year numbers from Marks & Spencer <MKS.L> and Vodafone <VOD.L>, and on the latest inflation numbers, due at 9:30 a.m.

The blue chip index closed 98.34 points higher on Monday at 4,446.45 bolstered by strength in banks and energy stocks, and a rally on Wall Street.

U.S. blue chips <.DJI> ended 2.9 percent higher on Tuesday, recovering after sharp falls on Friday as better-than-expected results from the No. 2 U.S. home improvement retailer, Lowe's Cos Inc <LOW.N>, helped spark broad-based buying on hopes the recession is easing and consumer spending is stabilising, with the good mood feeding through into Asia.

(Reporting by Jon Hopkins; editing by Mike Nesbit)

Article Published: 19/05/2009