14th Jan 2025 06:54
(Alliance News) - Stocks in London are set to open slightly higher on Tuesday, ahead of US producer price inflation and the Redbook index reading scheduled later.
"Another quiet data docket awaits today," commented Pepperstone's Michael Brown. "The only notable release comes Stateside, in the form of December's PPI figures.
"Headline factory gate prices are seen rising 3.5% YoY, 0.5pp higher than in November, though read-across to tomorrow's CPI print is likely to be limited, and the print shouldn't move the needle in terms of Fed pricing."
IG says futures indicate the FTSE 100 to open up 5.3 points, 0.1%, at 8,229.49 on Tuesday. The index of London large-caps closed 0.3% lower on Monday.
Sterling was quoted at USD1.2207 early Tuesday, higher than USD1.2161 at the London equities close on Monday.
The euro traded at USD1.0249 early Tuesday, higher than USD1.0209 late Monday. Against the yen, the dollar was quoted slightly lower at JPY157.61 versus JPY157.66.
In the US on Monday, Wall Street ended mostly higher, with the Dow Jones Industrial Average up 0.9%, the S&P 500 up 0.2% and the Nasdaq Composite down 0.4%.
In Asia on Tuesday, the Nikkei 225 index in Tokyo was down 1.9%. In China, the Shanghai Composite was up 2.1%, while the Hang Seng index in Hong Kong was up 2.3%. The S&P/ASX 200 in Sydney closed up 0.5%.
Gold was quoted at USD2,668.65 an ounce early Tuesday, higher than USD2,666.56 on Monday.
Brent oil was trading at USD79.74 a barrel early Tuesday, lower than USD81.25 late Monday.
In Tuesday's corporate calendar, the busy docket includes half-year results from Games Workshop and a trading update from JD Sports Fashion.
In the economic calendar on Tuesday, as well as the US data there is France's budget balance read and Italian industrial production data.
By Emma Curzon, Alliance News reporter
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