4th Feb 2026 06:52
(Alliance News) - Stocks in London are set to open higher on Wednesday, ahead of a slew of composite PMI readings and GSK's earnings release.
IG says futures indicate the FTSE 100 to open up 13.9 points, 0.1%, at 10,328.49 on Wednesday. The index of London large-caps closed down 26.97 points, 0.3%, at 10,314.59 on Tuesday.
Sterling was at USD1.3719 on Wednesday morning, up from USD1.3695 at the London equities close on Tuesday. The euro was higher at USD1.1832 from USD1.1818. Against the yen, the dollar was higher at JPY156.33 versus JPY155.73.
US President Donald Trump signed a spending bill ending the four-day partial government shutdown.
"This bill is a great victory for the American people," Trump said of the legislation, which was held up by Democratic opposition to funding for the federal agency carrying out his sweeping immigration crackdown.
In the US on Tuesday, Wall Street ended lower, with the Dow Jones Industrial Average down 0.3, the S&P 500 down 0.8% and the Nasdaq Composite 1.4% lower.
Pepperstone analyst Michael Brown said: "[The] underlying bull case does indeed continue to hold water, despite the geopolitical noise, with earnings season continuing to progress in solid fashion, not forgetting the 'Fed put' and 'Trump put' which remain present, and which should continue to backstop risk appetite."
In Asia on Wednesday, the Nikkei 225 in Tokyo was down 0.8%. In China, the Shanghai Composite was 0.8% higher, while the Hang Seng Index in Hong Kong rose 0.4%. The S&P/ASX 200 in Sydney was 0.8% higher.
Earnings season continued to progress, as Novo Nordisk shares sank after the Danish drugmaker reported slower growth in its Diabetes and Obesity care division.
Novo Nordisk reported 2025 net sales of DKK309.06 billion, around USD48.90 billion, up 6.4% from DKK290.40 billion in 2024.
At constant exchange rates, net sales improved by 10% in 2025. Net profit edged up 1.4% to DKK102.43 billion from DKK100.99 billion. Diluted earnings per share was DKK23.03, up 1.8% from DKK22.63.
Gold was higher at USD5,075.60 an ounce early on Wednesday from USD4,971.16 late Tuesday.
Pepperstone's Michael Brown said: "While I continue to view a period of consolidation as, perhaps, the most bullish signal that metals could send right now, we do at least now have some upside levels to keep on the radar in the short-term, having broken above the [USD5,000] mark in gold this morning, and with a closing break north of those handles likely to see fresh longs enter the fray once more."
Brent oil was trading higher at USD67.74 a barrel on Wednesday morning from USD67.15 on Tuesday.
Wednesday's UK corporate calendar has full-year results from pharmaceuticals firm, GSK.
Wednesday's global economic calendar has a slew of composite PMI readings, eurozone PPI figures and ADP payroll data in the US.
By Michael Hennessey, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.