9th Oct 2025 06:58
(Alliance News) - Stocks in London were called lower on Thursday, while overseas Hamas and the Israeli government have agreed to the first phase of the US government's peace plan, following talks in Egypt.
An agreement "stipulating an end to the war on Gaza, the occupation's withdrawal from it, the entry of aid, and a prisoner exchange," had been made, Hamas said in a statement.
IG says futures indicate the FTSE 100 to open down 41.6 points, 0.4%, on Thursday. The index of London large-caps closed up 0.7% at 9,548.87 on Wednesday.
Sterling was quoted at USD1.3409 early Thursday, slightly higher than USD1.3406 at the London equities close on Wednesday.
The euro traded at USD1.1641 early Thursday, higher than USD1.1615 late Wednesday. Against the yen, the dollar was quoted lower at JPY152.51 versus JPY152.68.
In the US on Wednesday, Wall Street ended mixed, with the Dow Jones Industrial Average down 1.20 points, the S&P 500 up 0.6% and the Nasdaq Composite up 1.1%.
In Asia on Thursday, the Nikkei 225 index in Tokyo was up 1.6%. In China, the Shanghai Composite was up 1.0%, while the Hang Seng index in Hong Kong was up 0.4%. The S&P/ASX 200 in Sydney closed up 0.3%.
Gold was quoted at USD4,037.50 an ounce early Thursday, lower than USD4,044.28 on Wednesday.
"A question that constantly comes up is whether gold has more room to run," Swissquote analyst Ipek Ozkardeskaya said. "Unlike equities, we don't have valuation ratios to judge whether gold has become "too expensive." The yellow metal also enjoys solid retail demand...But the physical leg is not the major explanation.
"Gold rallies because investors believe it has value. How much value? As much as people think it has. If one Bitcoin is trading above USD120,000, gold surely has endless upside potential, as well.
"So yes, even with record-high prices, the medium-term outlook for bullion remains positive. Many investors already eye a move toward USD5,000 and above."
Brent oil was trading at USD66.28 a barrel early Thursday, lower than USD66.40 late Wednesday.
In Thursday's corporate calendar, S&U and Volution release full-year results.
In the economic calendar on Thursday, Germany's trade balance is due out shortly.
By Emma Curzon, Alliance News reporter
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