London shares outlook - up, after Wall Street cuts losses; unemployment data due (AFX)

LONDON (Thomson Financial) - Leading shares are set to open stronger after Wall Street pared losses, with unemployment numbers for June and trading statements from building materials group Wolseley (LSE: WOS.L - news) and Land Securities (LSE: LAND.L - news) among the highlights UK investors will be watching today. The FTSE 100 will open about 35 points higher at 5,206, according to spread betting firm IG Index. On Tuesday the FTSE 100 index fell 128.5 points to 5,171.9, the lowest close since October 2005. Wall Street ended a whipsaw day mostly lower, though a steep decline in oil prices helped shares finish off the day's lows. Worries of escalating instability in the financial sector kept investors on edge. Shares of Fannie Mae (NYSE: FNM - news) and Freddie Mac (NYSE: FRE - news) -- which together hold or back nearly half... [read full story]