26th Nov 2024 06:48
(Alliance News) - London's FTSE 100 is called to open lower on Tuesday, returning some of the gains from the start of the week, on tariff threats by the US president-elect.
IG says futures indicate the FTSE 100 to open 33.0 points lower, 0.4%, at 8,258.68 on Tuesday. The index of London large-caps closed up 29.60 points, 0.4%, at 8,291.68 on Monday.
In New York, the Dow Jones Industrial Average added 1.0% on Monday. The S&P 500 and Nasdaq Composite each added 0.3%.
In China on Tuesday, the Shanghai Composite was down 0.1% in late dealings. The Hang Seng in Hong Kong was fractionally higher. In Tokyo, however, the Nikkei 225 fell 1.1%, while the S&P/ASX 200 in Sydney lost 0.7%.
US President-elect Donald Trump said Monday he intends to impose sweeping tariffs on goods from Mexico, Canada and China, prompting a swift warning from Beijing that "no one will win a trade war."
In a series of posts to his Truth Social account, Trump vowed to hit some of the US' largest trading partners with duties on all goods entering the country.
"On January 20th, as one of my many first executive orders, I will sign all necessary documents to charge Mexico and Canada a 25% tariff on ALL products coming into the US," he wrote.
In another post, Trump said he would also be slapping China with a 10% tariff, "above any additional Tariffs," in response to what he said was its failure to tackle fentanyl smuggling.
The pound was quoted at USD1.2552 early Tuesday, fading from USD1.2559 at the time of the London equities close on Monday. The euro stood at USD1.0479, down from USD1.0488. Against the yen, the dollar was trading at JPY153.82, falling from JPY154.37.
Brent oil was quoted at USD72.62 a barrel early Tuesday, down from USD73.43 at the time of the closing bell in London on Monday. Gold slid to USD2,622.91 an ounce from USD2,634.92.
Bloomberg reported that Israel is potentially "days away" from a cease-fire agreement with Hezbollah, following a new round of shuttle diplomacy by a senior envoy for the outgoing Biden administration.
"We are close to a deal," the Israeli ambassador to the US, Michael Herzog, told Israel's Army Radio on Monday, adding that some final points still needed to be addressed. "It could happen within days."
The Israeli security cabinet is expected to meet on Tuesday and may vote on whether to accept a truce with Hezbollah, according to an Israeli official, cited by Bloomberg.
Tuesday's global economic diary sees consumer confidence in and new homes sales figures in the US.
The local corporate calendar has full-year results from contract caterer Compass Group.
By Eric Cunha, Alliance News news editor
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