13th Feb 2026 06:59
(Alliance News) - Stocks in London are set to open higher on Friday, ahead of US consumer price inflation data and following an across-the-board sell-off on Wall Street and in Asian markets.
IG says futures indicate the FTSE 100 to open up 19.3 points, 0.2% at 10,422.14 on Friday. The index of London large-caps closed down 0.7% at 10,402.44 on Thursday.
US President Donald Trump revoked a landmark scientific finding that underpins US regulations aimed at curbing planet-warming pollution, marking the administration's most far-reaching rollback of climate policy to date. "This determination had no basis in fact, had none whatsoever, and no basis in law," Trump said during a White House event where he was joined by Environmental Protection Agency Administrator Lee Zeldin.
The administration also formally scrapped greenhouse emissions standards on cars. The repeal is expected to be swiftly challenged in court. The 2009 "endangerment finding" was a determination under then-president Barack Obama that six greenhouse gases threaten public health and welfare by fueling climate change.
Meanwhile, the Pentagon has ordered a second aircraft carrier to deploy to the Middle East, US media reported Thursday, as President Donald Trump weighs taking military action against Iran.
Washington and Tehran began indirect talks last week over the future of Iran's nuclear program, and Trump on Thursday warned of "very traumatic" consequences for the country if it failed to make a nuclear deal.
Sterling was quoted at USD1.3596 early Friday, lower than USD1.3628 at the London equities close on Thursday.
The euro traded at USD1.1854 early Friday, lower than USD1.1869 late Thursday. Against the yen, the dollar was quoted at JPY153.27, higher versus JPY152.56.
In the UK, shopper footfall rallied in January compared with the disappointing Christmas period but remained down on a year earlier, according to British Retail Consortium-Sensormatic data. Although visits across the UK were down 0.6% on last January, this marked an improvement from the 2.9% decline in December.
High street visits fell 1.9% year-on-year in January, worsening from a 0.9% drop in December, while shopping centre footfall declined 0.8% but improved from a 5.1% plunge over Christmas. Retail parks recorded positive growth, helped by free parking during January sales.
Scotland posted the strongest annual growth, up 5.1%, with Northern Ireland up 3.8%, while England and Wales saw declines of 1.4% and 2.8% respectively.
BRC Chief Executive Helen Dickinson said: "Although footfall edged down in January compared to a year earlier, it was much better than the disappointing Christmas period."
In the US on Thursday, Wall Street ended lower, with the Dow Jones Industrial Average down 1.3%, the S&P 500 down 1.6% and the Nasdaq Composite down 2.0%.
Michael Brown, senior research strategist, said: "Stocks did take a lurch lower on Wall Street, again led by the tech sector...there was no real trigger for the downside, though it did have a whiff of broad de-risking about it, as opposed to a sectoral rotation, especially with two-thirds of the SPX ending the day in the red."
US consumer price inflation for January is due at 1330 GMT. The FXStreet-cited consensus expects headline CPI to rise 2.5% year-on-year, easing from 2.7% in December.
On trade, the US signed a deal with Taiwan confirming lower US tariffs on the island's goods alongside Taiwanese spending commitments on American products.
The agreement formalises a January pact cutting US tariffs on many Taiwanese exports from 20% to 15%, while boosting investment in the US tech industry. The deal must still be reviewed by Taiwan's legislature.
In Asia on Friday, the Nikkei 225 index in Tokyo was down 1.0%. In China, the Shanghai Composite was down 1.0%, while the Hang Seng index in Hong Kong was down 1.9%.
Tensions between Tokyo and Beijing also rose after Japanese authorities seized a Chinese fishing boat and arrested its skipper. Japan's fisheries agency said the vessel failed to comply with inspection orders and fled.
The S&P/ASX 200 in Sydney closed down 1.4% as Australian household spending growth eased in January, according to a Commonwealth Bank of Australia report.
The household spending insights index rose 0.5% month-on-month in January versus 0.7% in December, marking the 16th consecutive month of growth. Utilities spending jumped 3.7% as federal energy rebates were scaled back, while insurance and recreation both rose 1.0%. Food and beverages edged down 0.3% and transport fell 1.2%.
In Europe, ahead of the Munich Security Conference starting Friday, EU leaders pledged to push forward reforms to revive the bloc's economy but remained split over joint debt issuance to counter pressures from China and the US. Divisions persisted among the 27 member states, with France advocating greater support for EU firms and more common borrowing, while Germany signalled caution.
Gold was quoted at USD4,955.70 an ounce early Friday, higher than USD4,932.33 on Thursday.
Brent oil was trading at USD67.40 a barrel early Friday, lower than USD68.08 late Thursday.
In Friday's corporate calendar, NatWest Group reports full year results.
In the economic calendar on Friday, Germany wholesale prices, Switzerland CPI, Spain CPI, eurozone trade balance and US CPI are due.
By Eva Castanedo, Alliance News reporter
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