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LONDON MARKET EARLY CALL: FTSE 100 down as Middle East tensions rise

3rd Oct 2024 07:23

(Alliance News) - Stocks in London are set to open lower on Thursday, ahead of economic data releases from the UK, US and Europe and as conflict between Israel, Iran and Lebanese group Hezbollah shows no signs of de-escalation.

IG says futures indicate the FTSE 100 to open down 5.1 points, 0.1%, at 8,285.76 on Thursday. The index of London large-caps closed up 0.2%, at 8,290.86 on Wednesday.

Sterling was quoted at USD1.3187 early Thursday, lower than USD1.3271 at the London equities close on Wednesday.

The euro traded at USD1.1028, lower than USD1.1046 late Wednesday. Against the yen, the dollar was quoted higher at JPY146.55 versus JPY146.06.

In the US on Wednesday, Wall Street ended slightly higher with the Dow Jones Industrial Average and the Nasdaq Composite up 0.1%, while the S&P 500 rose just 0.79 point.

In Asia on Thursday, the Nikkei 225 index in Tokyo was up 2.0%. In China, mainland financial markets are closed for National Day. The Hang Seng index in Hong Kong was down 1.7%. The S&P/ASX 200 in Sydney closed marginally higher.

Gold was quoted at USD2,652.88 an ounce, higher than USD2,650.17 at the London equities close on Wednesday.

Brent oil was trading at USD74.79 a barrel early Thursday, higher than USD74.05.

In Thursday's corporate calendar, Tesco releases its half-year results.

In the economic calendar, there are composite PMI readings from the eurozone, UK, US and several European countries.

By Emma Curzon, Alliance News reporter

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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