11th Jul 2025 06:57
(Alliance News) - Stocks in London are set to open flat on Friday, following a strong gain on Thursday, while sterling tread water ahead of UK economic data.
IG says futures indicate the FTSE 100 to open just 3.9 points lower at 8,971.76 on Friday. The index of London large-caps closed up 108.64 points, 1.2%, at 8,975.66 on Thursday. It had earlier traded as high as 8,979.41, surpassing the previous record of 8,908.82 set in March.
In Paris, the CAC 40 is called down 0.1% and Frankfurt's DAX 40 down 0.4%.
UK gross domestic product data is released at 0700 BST on Friday. According to consensus cited by FXStreet, the UK economy is estimated to have grown 0.1% on-month in May, after falling 0.3% in April from March.
The pound traded at USD1.3561 early Friday, unmoved from where it stood at the London equities close on Thursday. The euro edged up to USD1.1683 from USD1.1679. Against the yen, the dollar advanced to JPY146.87 from JPY146.49.
The yield on the US 10-year Treasury was unchanged at 4.37%. The yield on the 30-year widened slightly to 4.89% from 4.88%.
In New York on Thursday, the Dow Jones Industrial Average rose 0.4%, the S&P 500 added 0.3% and the Nasdaq Composite rose 0.1%.
Canada will face a 35% tariff on exports to the US starting August 1, President Donald Trump said Thursday in a letter to Prime Minister Mark Carney.
It was the latest of more than 20 such letters issued by Trump since Monday, as he continues to pursue his trade war threats against dozens of economies.
In Tokyo, the Nikkei 225 traded slightly higher. In China, the Shanghai Composite was up 0.9%, while the Hang Seng Index in Hong Kong jumped 1.8%. In Sydney, the S&P/ASX 200 was down 0.1%.
A barrel of Brent was largely flat at USD68.86 early Friday, from USD68.89 at the time of the London equities close on Thursday. Gold rose to USD3,334.41 an ounce from USD3,320.06.
By Eric Cunha, Alliance News news editor
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