23rd Dec 2025 06:54
(Alliance News) - Stocks in London are set to open slightly lower on Tuesday, after mixed trade in Asia, and failing to replicate Wall Street's advance as eyes turn to US economic data.
IG says futures indicate the FTSE 100 to open 9.0 points lower, 0.1%, at 9,856.97 on Tuesday. The index of London large-caps closed down 31.45 points, 0.3% at 9,865.97 on Monday.
The pound advanced to USD1.3484 on Tuesday morning, from USD1.3452 at the time of the London equities close on Monday. The euro climbed to USD1.1771 from USD1.1759. Against the yen, the buck fell to JPY156.10 from JPY156.95.
Sterling rose as high as USD1.3493, its best level since early-October.
A barrel of Brent was largely unchanged at USD61.83 from USD61.87. Gold rose to USD4,476.41 an ounce from USD4,440.54, after hitting a record high above USD4,497 earlier Tuesday.
In New York on Monday, the Dow Jones Industrial Average rose 0.5%, the S&P 500 added 0.6% and the Nasdaq Composite rose 0.5%.
"The week started on a mixed note. Market mood in Europe was rather subdued, with major indices trading flat to negative as China announced tariffs of up to 43% on EU dairy imports. Even the energy- and mining-heavy FTSE 100 failed to eke out gains yesterday, despite a rally in the energy and metals complex," Swissquote analyst Ipek Ozkardeskaya commented.
"Europe is also missing the AI turn in real time. It has no big tech platforms, few major innovations, and instead operates under a heavy regulatory framework."
The analyst also noted trade tensions weighed on the mood in Europe.
Brussels hit back Monday at China slapping duties of up to 42.7% on some dairy products from the EU, calling the move "unjustified".
China's announcement on Monday is the latest in a trade spat with the EU that spans from food to electric vehicles.
The "duty deposits", which range from 21.9% to 42.7%, come into effect on Tuesday.
Danone shares fell 1.0% in Paris on Monday.
In Tokyo on Tuesday, the Nikkei 225 was down 0.1%. In China, the Shanghai Composite was also 0.1%, while the Hang Seng Index in Hong Kong was 0.3% lower. Sydney's S&P/ASX 200 added 1.1%.
Focus on Wednesday will be on US gross domestic product data at 1330 GMT. It is expected to show growth eased to 3.2% on an annualised basis quarter-on-quarter, from 3.8% in the second quarter.
By Eric Cunha, Alliance News news editor
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