15th Jul 2025 06:56
(Alliance News) - Stocks in London are set to open higher today, on the back of a batch of
China data, and ahead of a US inflation reading, as well as a host of earnings reports from banks stateside.
IG says futures indicate the FTSE 100 to open 17.8 points higher, 0.2%, at 9,015.86 on Tuesday. It would represent the first time the blue-chip benchmark has hit 9,000 points.
The index of London large-caps closed up 56.94 points, 0.6%, at 8,998.06. It earlier hit a new all-time peak of 8,999.22.
"Yesterday was relatively quiet in terms of news surrounding US tariff policy, at least when compared to last week. But that was to be expected. After all, the new deadline has been set, and now it's time to get back to the negotiating table. However, it should be clear that the next two weeks will not be easy," Commerzbank analyst Volkmar Baur commented.
"Not only because, as we know, only three more or less deals have been reached in the more than 90 days since Liberation Day. EU Trade Commissioner Maros Sefcovic also indicated yesterday that there are still major differences in individual positions between the US and the EU. At first glance, this seems to contradict statements made in recent weeks, where it was repeatedly said that the two sides had moved closer together. But this does not have to be a contradiction."
In Paris, the CAC 40 is called up 0.3%, and Frankfurt's DAX 40 up 0.2%. On Monday, the CAC lost 0.3% and the DAX 0.4%.
Tuesday's economic calendar has a US inflation reading at 1330 BST.
In China on Tuesday, the Shanghai Composite was down 0.7%. The Hang Seng Index in Hong Kong was up 0.5%. In Tokyo, the Nikkei 225 was up 0.3%, while Sydney's S&P/ASX 200 was 0.7% higher.
China's economy grew faster than expected in the second quarter of 2025. According to preliminary estimates from the National Bureau of Statistics of China, the country's gross domestic product increased 5.2% year-on-year in the second quarter of 2025, slowing from a 5.4% rise in the previous quarter. However, the latest figure exceeded the consensus forecast of 5.1% growth, as cited by FXStreet.
NBS also reported that China's urban surveyed unemployment rate held steady at 5.0% in June, unchanged from May.
Meanwhile, total retail sales of consumer goods rose 4.8% year-on-year in June, coming in below the 5.6% forecast and slowing from a 6.4% increase in May.
However, industrial production expanded 6.8%, outperforming both May's 5.8% growth and the 5.6% forecast.
"China's second-quarter GDP beat forecasts again with a 5.2% year-on-year growth, driven by strong trade and industrial production. Yet sharper-than-expected slowdowns in fixed-asset investment and retail sales and falling property prices are a concern. China remains on track to hit this year's growth target, though a slowdown could be on the way," analysts at ING commented.
The pound was quoted at USD1.3441 early Tuesday, fading slightly from USD1.3446 at the time of the London equities close on Monday. The euro was flat at USD1.1684 against USD1.1683. Against the yen, the dollar edged up to JPY147.56 from JPY147.52.
The yield on the US 10-year Treasury was at 4.44%, where it stood at the time of the closing bell in London on Monday. The yield on the 30-year was unmoved at 4.98%.
A barrel of Brent fell to USD69.02 from USD69.57. Gold rose to USD3,364.11 an ounce from USD3,347.47.
Tuesday's UK corporate calendar has trading statements from housebuilder Barratt Redrow, retailer B&M European Retail, credit checker Experian and recruiter Robert Walters.
Over in the US, the corporate calendar sees half-year results from Citigroup, JPMorgan Chase and Wells Fargo.
"US big banks will start reporting Q2 earnings in the coming hours and days, and they're expected to post a 1% decline in Q2," Swissquote analyst Ipek Ozkardeskaya commented.
In New York on Monday, the Dow Jones Industrial Average rose 0.2%, the S&P 500 added 0.1% and the Nasdaq Composite rose 0.3%.
By Eric Cunha, Alliance News news editor
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.