15th Jan 2026 06:58
(Alliance News) - Stocks in London are set to open higher on Thursday, bucking the broader trend across global equities, which are mostly in the red ahead of UK GDP data.
IG says futures indicate the FTSE 100 to open 49.4 points higher on Thursday. The index of London large-caps closed up 0.5% at 10,184.35 on Wednesday.
UK gross domestic product figures for November are due at 0700 GMT, with consensus cited by FXStreet pointing to a 0.1% month-on-month rise.
Sterling was quoted at USD1.3424 early Thursday, lower than USD1.3450 at the London equities close on Wednesday. The euro traded at USD1.1630 early Thursday, lower than USD1.1650 late Wednesday. Against the yen, the dollar was quoted at JPY158.64, up versus JPY158.25.
In the US on Wednesday, Wall Street ended lower. The Dow Jones Industrial Average slipped 0.1%, the S&P 500 fell 0.5%, and the Nasdaq Composite dropped 1.0%.
Producer prices in the US rose at a faster pace in November, driven by higher energy costs, while annual inflation came in hotter than expected, data from the US Bureau of Labor Statistics showed.
The producer price index for final demand increased 0.2% on a seasonally adjusted basis, following a 0.1% rise in October and a 0.6% gain in September.
On an unadjusted basis, final demand prices in November were 3.0% higher than a year earlier, accelerating from 2.8% in October and exceeding the FXStreet-cited consensus forecast of 2.7%.
Separate data suggested US economic activity improved, amid growing optimism and firmer consumer spending.
According to the Federal Reserve's Beige Book, overall economic activity increased at a slight to modest pace in eight of the 12 Federal Reserve districts, with three reporting no change and one noting a modest decline. This marked an improvement from the previous three report cycles, when most districts reported little change.
Most outlooks for future activity were described as "mildly optimistic," with expectations of slight to modest growth in coming months.
Employment was largely unchanged, with eight districts reporting no change in hiring, while prices rose at a moderate pace across most districts. Tariff-related cost pressures were cited consistently.
Geopolitical tensions were also in focus after the UK sent a military officer to Greenland as Denmark ramps up its presence in the Arctic and High North, following repeated calls by US President Donald Trump for the US to assume control of the territory.
Denmark's Defence Minister Troels Lund Poulsen said the joint operation would involve several allied countries, warning that "no one can predict what will happen tomorrow."
Downing Street confirmed one UK military officer had been deployed at Denmark's request to join a reconnaissance group ahead of a planned Arctic Endurance exercise.
In Asia on Thursday, markets were mostly lower. The Nikkei 225 in Tokyo fell 0.5%, while the Shanghai Composite and the Hang Seng Index in Hong Kong both dropped 0.5%. The S&P/ASX 200 in Sydney closed up 0.5%.
Japan's producer prices rose at a slower pace in December, as gains in non-ferrous metals were offset by declines in petroleum and coal products, preliminary data showed. According to the Bank of Japan, the corporate producer price index increased 0.1% month-on-month in December, slowing from 0.3% in November and matching the FXStreet-cited consensus forecast.
Separately, Iran closed its airspace to commercial flights for several hours early Thursday without explanation, as tensions remained elevated with the US following Tehran's violent crackdown on nationwide protests.
Gold was quoted at USD4,606.50 an ounce early Thursday, lower than USD4,621.15 on Wednesday. Brent oil was trading at USD64.58 a barrel early Thursday, down from USD65.97 late Wednesday.
In Thursday's corporate calendar, trading statements are due from Ashmore Group, Dunelm Group, Fuller, Smith & Turner, Taylor Wimpey and Rathbones Group, among others.
In the economic calendar on Thursday, UK GDP, trade balance, industrial production and construction output figures are due, alongside Germany wholesale prices, Spain, France and Ireland consumer price data, the eurozone trade balance and US weekly jobless claims.
By Eva Castanedo, Alliance News reporter
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