London pre-open: FTSE seen sharply higher after strong reversal on Wall Street

5th Oct 2015 07:42

(ShareCast News) - UK stocks are expected to open with strong gains on Monday, taking their cue from an impressive reversal on Wall Street on Friday.The FTSE 100 is being called up 115 points at 6245.On the data front, UK services PMI is due at 0930 BST, while in the US, ISM non-manufacturing is at 1500 BST.Rolls-Royce to cut 400 more jobs in marine businessRolls-Royce has announced plans to cut another 400 jobs in its marine business, on top of the 600 job cuts already announced in May.The FTSE 100 listed company announced its plans on Monday, which also include investing more in research and development. The company said the job cuts are due to the low price of oil and a subsequent fall in orders. They will be carried out by the end of 2016.Xchanging confirmed on Monday that it has received approaches from Capita and Apollo Global Management regarding offers for the company. Capita said it has been in discussions with the board of Xchanging since early August about a possible cash offer for the company.CLS Holdings has purchased Chancery House in Sutton for £10.2m. The FTSE 250 listed company announced the deal for the eight storey office building on Monday. The company said it has identified opportunities to improve the building for its occupiers and to attract more tenants to move in. CLS Holdings executive chairman Sten Mortstedt said it's an attractive addition that will fit well into the company's London portfolio.