10th Feb 2025 06:53
(Alliance News) - London's FTSE 100 is to open slightly higher on Monday, while Asia was mostly higher despite more US tariff fears.
IG says futures indicate the FTSE 100 to open 10.3 points higher, 0.1%, at 8,710.83 on Monday. The index of London large-caps closed down 26.75 points, 0.3%, at 8,700.53 on Friday.
The pound edged up to USD1.2408 early Monday from USD1.2400 at the time of the London equities close on Friday. The euro slipped to USD1.0316 from USD1.0333. Against the yen, the dollar rose to JPY151.82 from JPY151.24.
Gold bought USD2,885.71 an ounce, rising from USD2,859.53. A barrel of Brent rose to USD75.04 from USD74.59.
In Sydney, the S&P/ASX 200 lost 0.3%. In China, the Shanghai Composite was up 0.5%, while the Hang Seng Index in Hong Kong jumped 1.6%. Tokyo's Nikkei 225 edged up slightly.
US President Donald Trump on Friday said that he would announce further "reciprocal" tariffs.
Asked about tariffs on products from Japan as he met Prime Minister Shigeru Ishiba at the White House, Trump answered in far-reaching terms, speaking of "reciprocal trade, so that we're treated evenly with other countries. We don't want any more, any less."
Trump spoke of an announcement on Monday or Tuesday.
"I think that's the only fair way to do it that way nobody's hurt," Trump said. "They charge us, we charge them. It's the same thing, and I seem to be going in that line as opposed to a flat fee tariff."
Trump said that tariffs were not discussed much in his meeting with the Japanese premier. It was not clear who would be targeted by the new measures.
The US will move to impose 25% tariffs on steel and aluminium imports on Monday, Trump said on Sunday, the latest in a slew of trade levies the US leader has announced.
Trump made the announcement on board Air Force One en route to attend the Super Bowl American football championship game in New Orleans, according to a White House pool report.
In New York on Friday, the Dow Jones Industrial Average and S&P 500 lost 1.0%, while the Nasdaq Composite fell 1.4%.
By Eric Cunha, Alliance News news editor
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