11th Feb 2026 06:49
(Alliance News) - Stocks in London are set to open higher on Wednesday, after mixed trading on Wall Street and a raft of softer-than-expected US economic data.
IG says futures indicate the FTSE 100 to open up 23.0 points, 0.2% at 10,376.84 on Wednesday. The index of London large-caps closed down 0.3% at 10,353.84 on Tuesday.
Sterling was quoted at USD1.3668 early Wednesday, higher than USD1.3661 at the London equities close on Tuesday.
The euro traded at USD1.1916 early Wednesday, higher than USD1.1901 late Tuesday. Against the yen, the dollar was quoted at JPY153.06 versus JPY154.23.
In the US on Tuesday, Wall Street ended mixed, with the Dow Jones Industrial Average up 0.1% but the S&P 500 down 0.3% and the Nasdaq Composite down 0.6%.
On the US economic front, a slew of releases showed that US retail sales unexpectedly remained flat on a month-on-month basis in December.
Advance estimates of US retail and food services sales were virtually unchanged at USD735.0 billion in December, compared to USD735.1 billion in November, when they had risen 0.6%. The FXStreet-cited consensus had expected monthly growth of 0.4% in December.
Separately, the US Bureau of Labor Statistics reported that US import prices edged up 0.1% monthly in December, lower than 0.4% in November and below an expected uptick of 0.2%. US export prices, meanwhile, advanced 0.3% in December, easing from 0.5% in November but ahead of an expected increase of just 0.1%.
Meanwhile, the employment cost index for civilian workers in the US rose 0.7% on-quarter in the fourth quarter of 2025, the BLS reported, below 0.8% in the third quarter and below expectations of another 0.8% increase. Over the whole of 2025, the index rose 3.4%, down from 3.8% in 2024.
Finally, ADP Research reported that for the four weeks ending January 24, US private employers added an average of 6,500 jobs per week, higher than the 5,000 per week for the four weeks ending January 17. The ADP report precedes today's nonfarm payrolls release.
Google parent Alphabet will issue bonds maturing in 100 years as it continues to invest heavily in infrastructure for artificial intelligence, AFP reported, citing data published on Tuesday by Bloomberg.
The Silicon Valley internet company reportedly aims to raise about USD20 billion overall, a chunk of it by issuing bonds that mature in February 2126, with lenders so keen for a piece of the AI action that they placed USD100 billion in orders for the debt. Alphabet did not respond to a request for comment.
While 100-year bonds are not new, it has been decades since US companies have resorted to them.
Meanwhile, US Commerce Secretary Howard Lutnick on Tuesday denied having regular interaction with the late convicted sex offender Jeffrey Epstein, as political pressure mounted with lawmakers calling for him to resign.
"Over a 14 year period, I did not have any relationship with him. I barely had anything to do with that person," Lutnick told a Senate committee hearing, referring to a period starting in 2005 when he moved to a New York home where Epstein was his neighbour.
A rising number of US lawmakers have called for Lutnick's resignation from President Donald Trump's cabinet, as files released by the Justice Department contradicted his earlier comments that he severed ties with Epstein more than two decades ago.
In China on Wednesday, the Shanghai Composite was up 0.2%, while the Hang Seng index in Hong Kong was up 0.3%, as China's consumer price growth slowed at the start of the year, official data showed.
According to the National Bureau of Statistics of China, the consumer price index rose 0.2% year-on-year in January, easing from 0.8% in December and missing the FXStreet-cited consensus forecast of a 0.4% increase. CPI was unchanged on a month-on-month basis at 0.2%.
Additionally, China's producer price deflation eased to minus 1.4% on an annual basis from minus 1.9% in December, higher than the minus 1.5% expected by FXStreet.
The S&P/ASX 200 in Sydney closed up 1.7%, supported by Commonwealth Bank of Australia which rose 6.8% after lifting its dividend and reporting stronger profit for the first half of financial 2026 despite an increase in staff and technology spending.
The Tokyo Stock Exchange is closed on Wednesday for National Foundation Day.
The Sydney-based bank said net profit increased 4.5% to AUD5.37 billion, approximately USD3.80 billion, in the six months ended December 31 from AUD5.13 billion a year prior. Diluted earnings per share from continuing operations rose 5.2% to 323.2 Australian cents from 307.1 cents.
CBA lifted its interim dividend by 4.4% to AUD2.35 per share from AUD2.25 previously. Net interest income grew 6.4% to AUD12.70 billion from AUD11.93 billion.
Gold was quoted at USD5,058.40 an ounce early Wednesday, higher than USD5,011.70 on Tuesday.
Brent oil was trading at USD69.18 a barrel early Wednesday, higher than USD68.82 late Tuesday.
In Wednesday's corporate calendar, half-year results are due from Barratt Redrow, MJ Gleeson, PZ Cussons and Renishaw, while Smurfit Westrock reports full-year results and Severn Trent issues a trading statement.
In the economic calendar on Wednesday, the focus is on the US unemployment rate (nonfarm payrolls) and the US monthly budget statement.
By Eva Castanedo, Alliance News reporter
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