FTSE 100 set to recover after falling on EU GDP data, commodities hold steady

The FTSE 100 is projected to open 0.2% higher today after sliding 0.4% on Friday on disappointing GDP data from the euro zone, the EU and several EU states.
US stocks were mixed on Friday. The Dow Jones Industrial Average finished 0.45% lower and the broader S&P 500 index declined 0.3%, while the technology heavy NASDAQ composite added 0.3%.
US markets are closed for the President’s Day today.
Several Chinese markets also were closed today due to the Chinese New Year. Japan’s benchmark Nikkei 225 slid 0.8%, while Australia’s S&P/ASX 200 index was down 0.4%.
National Grid (LSE: NG) was the top performer among the blue chips with a 2.6% improvement. Telecom group BT (LSE: BT) followed with a 2.2% gain. United Utilities (LSE: UU) and tour company TUI Travel (LSE: TT) followed, climbing 1.7%, while power generation company International Power (LSE: IPR), pharmaceutical company GlaxoSmithKline (LSE: GSK) and consumer goods company Reckitt Benckiser (LSE: RB) added nearly 1.5%.
Airline British Airways (LSE: BAY) and part-nationalized bank Lloyds (LSE: LLOY) were the heaviest fallers in the index with losses of 4.1% and 3.2% respectively. Turbine manufacturer Rolls-Royce (LSE: RR), insurer Legal & General (LSE: LGEN), banking group Barclays (LSE: BARC) and miners Xstrata (LSE: XTA) and Vedanta Resources (LSE: VED) all dropped about 2.5%.
Commodities
Oil prices were slightly lower today as April Brent Crude slid to US$72.76/barrel, while US light, sweet crude was down to US$74.02/barrel.
Precious metals were roughly at the same level as on Friday. Gold stood at US$1,091/oz, while silver and platinum held steady at US$15.46/oz and US$1,511/oz respectively.
Base metals also were flat. Copper and nickel were at US$3.05/lb and US$8.39/lb respectively and zinc stood at US$0.97/lb.
No significant economic updates are set to be released today.

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