27th Aug 2025 06:50
(Alliance News) - Stocks in London are set to open higher on Wednesday, with markets taking a breather following the concerns sparked by US President Donald Trump firing Federal Reserve Governor Lisa Cook.
"Markets fear that if Trump succeeds in ousting Cook — and he has often tested limits successfully — he could tilt decision-making at the Fed in his favour, indirectly influencing policy," Swissquote's Ipek Ozkardeskaya noted.
IG says futures indicate the FTSE 100 to open up 45.3 points, 0.5%, on Wednesday. The index of London large-caps closed 0.6% lower at 9,265.80 on Tuesday.
Sterling was quoted at USD1.3454 early Wednesday, lower than USD1.3483 at the London equities close on Tuesday.
The euro traded at USD1.1618 early Wednesday, lower than USD1.1656 late Tuesday. Against the yen, the dollar was quoted higher at JPY147.87 versus JPY147.37.
In the US on Tuesday, Wall Street ended higher, with the Dow Jones Industrial Average up 0.3%, the S&P 500 up 0.4% and the Nasdaq Composite up 0.4%.
In Asia on Wednesday, the Nikkei 225 index in Tokyo was up 0.2%. In China, the Shanghai Composite was down 0.2%, while the Hang Seng index in Hong Kong was down 0.4%. The S&P/ASX 200 in Sydney closed up 0.2%.
Gold was quoted at USD3,378.12 an ounce early Wednesday, lower than USD3,382.89 on Tuesday.
Brent oil was trading at USD66.66 a barrel early Wednesday, lower than USD67.46 late Tuesday.
In Wednesday's corporate calendar, Hochschild Mining releases half-year results.
In the economic calendar on Wednesday, look out for consumer confidence data from Germany.
By Emma Curzon, Alliance News reporter
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