3rd Nov 2025 06:56
(Alliance News) - Stocks in London are set to open higher on Monday, ahead of manufacturing purchasing managers index readings in the UK and eurozone.
IG says futures indicate the FTSE 100 to open up 12.7 points, 0.1% at 9,729.95 on Monday. The index of London large-caps closed down 42.81 points, 0.4%, at 9,717.25 on Friday.
Sterling was at USD1.3148 on Monday morning, up from USD1.3135 at the London equities close on Friday. The euro was higher at USD1.1540 from USD1.1536. Against the yen, the dollar was slightly higher at JPY154.17 versus JPY154.06.
Kansas City Fed President Jeff Schmid said he dissented on Wednesday's Federal Open Market Committee vote because inflation remained "too high" for comfort.
Schmid was one of two dissents on the FOMC, which lowered interest rates by 25 basis points to between 3.75% and 4.00%.
"The labour market is largely in balance, the economy shows continued momentum, and inflation remains too high," Schmid said in a statement. "I view the stance of policy as only modestly restrictive. "In this context, I judged it appropriate to maintain the policy rate at this week's meeting."
The yield on the 10-year US Treasury slimmed slightly to 4.08% on Monday morning from 4.09% on Friday. The yield on the 30-year was unchanged at 4.66%.
In the US on Friday, Wall Street ended higher, with the Dow Jones Industrial Average up 0.1%, the S&P 500gained 0.3% and the Nasdaq Composite advanced 0.6%.
In Asia on Monday, the Nikkei 225 in Tokyo is closed for Culture Day. In China, the Shanghai Composite was up 0.4%, while the Hang Seng Index in Hong Kong was 1.0% higher. The S&P/ASX 200 in Sydney was up 0.2%.
Over the weekend, Berkshire Hathaway reported a rise in third quarter profit and revealed its cash pile jumped to a record high, as its longtime chief Warren Buffett prepares to call time on his stint at the helm of the company.
Third quarter total revenue increased 2.1% to USD94.97 billion from USD93.00 billion a year prior.
The Omaha, Nebraska-based conglomerate achieved net earnings growth of 17% to USD30.86 billion from USD26.48 billion.
Cash and cash equivalents and short-term investments in US Treasury bills totalled USD381.67 billion at the end of September, an all-time high, rising from USD334.20 billion at the start of the year.
Gold was higher at USD4,014.30 an ounce early on Monday from USD3,982.25 late Friday. Brent oil was trading higher at USD65.14 a barrel from USD64.45.
Opec+ plans to expand production again in December and pump out an additional 137,000 barrels daily, the eight member states led by Russia and Saudi Arabia said in a statement.
However, production will not be further increased in the first quarter of 2026 "due to seasonality," members agreed in a meeting.
In Monday's corporate calendar, Diversified Energy and Empiric Student Property will release trading statements.
In the economic calendar on Monday, there are manufacturing purchasing managers' index reports from the eurozone, the US, the UK and others.
By Michael Hennessey, Alliance News reporter
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