19th Nov 2025 06:51
(Alliance News) - Stocks in London are set to open slightly higher on Wednesday, clawing back a fraction of Tuesday's weakness, with eyes on a UK inflation reading this morning.
IG says futures indicate the FTSE 100 to open 12.2 points higher, 0.1%, at 9,564.50 on Wednesday. The index of London large-caps closed down 123.13 points, 1.3%, at 9,552.30 on Tuesday. The FTSE 100 is on a four-day losing streak.
According to consensus cited by FXStreet, the pace of annual UK consumer price inflation is expected to have eased to 3.6% in October, from 3.8% in September.
Pepperstone analyst Michael Brown believes the reading should confirm that "price pressures peaked in September", paving the way for a 25 basis point interest rate cut by the Bank of England in December.
The next BoE decision is on December 18, a day after another consumer price inflation reading.
Sterling rose to USD1.3150 early Wednesday, from USD1.3141 late Tuesday. The euro climbed to USD1.1589 from USD1.1576, while against the yen, the buck faded to JPY155.37 from JPY155.44.
After the UK inflation reading at 0700 GMT, the economic calendar also has eurozone consumer price index data at 1000 GMT and minutes of the October Federal Reserve meeting in the evening.
In New York on Tuesday, the Dow Jones Industrial Average shed 1.1%, the S&P 500 fell 0.8% and the Nasdaq Composite lost 1.2%.
The yield on the 10-year US Treasury was steady at 4.12% early Wednesday, where it stood at the time of the London equities close on Tuesday. The 30-year was similarly unmoved at 4.74%.
In Tokyo on Wednesday, the Nikkei 225 ended 0.1% lower. In China, the Shanghai Composite was up 0.3% in late trade, though the Hang Seng Index in Hong Kong was down 0.4%. The S&P/ASX 200 in Sydney shed 0.3%.
Wednesday's UK corporate calendar has half-year results from real estate investor British Land and full-year earnings from accountancy software provider Sage.
In focus across the Atlantic will be third quarter numbers from chipmaker Nvidia.
Swissquote analyst Ipek Ozkardeskaya commented: "My crystal ball is whispering that today, after the US closing bell, Nvidia will probably dump another set of jaw-dropping numbers on the table - perhaps a few more billions in sales revenue than the USD55 billion expected by analysts (which would already be a nearly 60% growth compared to the same time last year) and a gross margin of ideally more than 73%. The company will likely give another stellar guidance and remind everyone that China - once their VIP client - doesn't even matter in their forecast as much as it did before. CEO Jensen Huang wants investors to assume that the Chinese revenue will be zero. Anything on top of that would be the cherry on top."
A barrel of Brent rose to USD64.70 early Wednesday, from USD64.10 late Tuesday afternoon in London. Gold rose to USD4,094.91 an ounce from USD4,060.07.
By Eric Cunha, Alliance News news editor
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