28th Nov 2025 06:58
(Alliance News) - Stocks in London are set to open higher on Friday, as investors continue to analyse the impact of Wednesday's UK budget announcement and the US market reopens for a half day.
IG says futures indicate the FTSE 100 to open up 16.6 points, 0.2%, at 9,710.53 on Friday. The index of London large-caps closed up just 2.35 points at 9,693.93.
Sterling was at USD1.3219 on Friday morning, down from USD1.3251 at the London equities close on Thursday. The euro was lower at USD1.1581 from USD1.1599. Against the yen, the dollar was higher at JPY156.41 versus JPY156.27.
Ministers in the UK have abandoned plans to give workers day-one protection against unfair dismissal in a bid to ensure the Employment Rights Bill makes it through parliament.
The government now intends to introduce the right after six months of service instead – down from the current qualifying period of 24 months – in a U-turn that breaches Labour's manifesto.
There was a sharp decline in UK vehicle production in October, according to new data from the Society of Motor Manufacturers & Traders.
Figures from the UK motor industry trade group showed vehicle production fell 31% year-on-year in October to 62,116 cars and commercial vehicles from 89,871 units previously.
Car output alone declined 24% to 59,010 units from 77,484 units, and at 46%, almost half of all cars produced in October were either battery electric, plug-in hybrids or hybrid models.
Meanwhile, commercial vehicle production fell for the seventh consecutive month, down 75% at 3,106 units from 12,387 units.
Meanwhile in the US, President Trump will suspend migration from what he called "third world countries," a day after an Afghan national allegedly shot two National Guard soldiers in Washington.
"I will permanently pause migration from all Third World Countries to allow the US system to fully recover," Trump wrote on social media.
He also threatened to reverse "millions" of admissions granted under his predecessor Joe Biden, and to "remove anyone who is not a net asset to the US."
US financial markets were closed for Thanksgiving Day on Thursday and are open for just a half day on Friday.
The yield on the 10-year US Treasury was unchanged from Wednesday's close at 4.01%. The yield on the 30-year was at 4.65%, narrowed slightly from 4.66%.
In Asia on Friday, the Nikkei 225 in Tokyo was up 0.2%. In China, the Shanghai Composite was 0.3% higher, while the Hang Seng Index in Hong Kong lost 0.3%. The S&P/ASX 200 in Sydney was marginally down.
Gold was up at USD4,188.40 an ounce early on Friday from USD4,153.66 late Thursday. Brent oil was trading lower at USD63.11 a barrel from USD63.28.
Friday's UK corporate calendar has half-year results from Foresight Environmental Infrastructure.
The economic calendar has GDP data in Canada and CPI figures in France and Germany.
By Michael Hennessey, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.