2nd Dec 2024 06:49
(Alliance News) - London's FTSE 100 is called to open a touch lower on Monday, despite more bullish trade in Asia after strong data from China.
IG says futures indicate the FTSE 100 to open 3.8 points lower, 0.1%, at 8,283.50 on Monday. The index of London large-caps closed up 6.08 points, 0.1%, at 8,287.30 on Friday. It improved 0.3% last week.
The pound was quoted at USD1.2700 early Monday in London, up ever-so-slightly from USD1.2697 at the time of the closing bell in London on Friday. The euro stood at USD1.0532, fading from USD1.0579. Against the yen, the dollar was trading at JPY150.40, down fractionally from JPY150.43.
In an abbreviated New York trading day on Friday, the Dow Jones Industrial Average added 0.4%, the S&P 500 climbed 0.6% and the Nasdaq Composite rose 0.8%.
In China on Monday, the Shanghai Composite was up 0.7% in late trade. The Hang Seng Index in Hong Kong was 0.2% higher. In Tokyo, the Nikkei 225 added 0.7%, while the S&P/ASX 200 in Sydney was up 0.2%.
Asian equities perked up after robust China data.
Chinese manufacturing activity accelerated at the fastest rate since June in November, S&P Global data showed Monday.
The headline seasonally adjusted purchasing managers' index improved to 51.5 in November from 50.3 it October.
Growing further beyond the neutral 50-points mark separating growth from contraction, it indicates the pace of growth sped up. It was the fastest rate of growth since June.
Still to come on Monday are a slew of manufacturing PMI readings, including the eurozone at 0900 GMT, the UK at 0930 and a pair from the US at 1445 and 1500.
Focus later this week will be on the US jobs market, where there is a number of readings culminating with Friday's nonfarm payrolls.
Brent oil was quoted at USD72.38 a barrel early Monday, fading from USD72.65 at the time of the London equities close on Friday. Gold slipped to USSD2,625.91 an ounce from USD2,660.13.
By Eric Cunha, Alliance News news editor
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