2nd Oct 2024 07:04
(Alliance News) - Stocks in London are set to open higher on Wednesday, maintaining gains from Tuesday's close following turmoil in the Middle East.
IG says futures indicate the FTSE 100 to open up 13.8 points, or 0.2%, at 8,289.30 on Wednesday. The index of London large-caps closed up 39.70 points, 0.5%, at 8,276.65 on Tuesday.
Sterling was quoted at USD1.3290 early Wednesday, higher than USD1.3276 at the London equities close on Tuesday.
The euro traded at USD1.1073 early Wednesday, higher than USD1.1064 late Tuesday. Against the yen, the dollar was quoted at JPY143.96, up versus JPY143.87.
In the US on Tuesday, Wall Street ended lower, with the Dow Jones Industrial Average down 0.4%, the S&P 500 down 0.9% and the Nasdaq Composite down 1.5%.
US vice presidential contenders JD Vance and Tim Walz faced off in a surprisingly civil debate Tuesday, despite tense moments on the hot topics of migration, abortion and the threat of war in the Middle East, reported AFP.
Republican Vance and Democrat Walz dug into policy and avoided the bitter personal attacks that presidential candidates Donald Trump and Kamala Harris exchanged during an often heated clash in September.
But the shadow of their bosses hung over the CBS debate, with Walz attacking Trump as a threat to democracy and unfit to lead America on the world stage, and Vance slamming Harris's record on the economy and illegal migration as part of President Joe Biden's administration.
A key moment came near the end, when Vance refused to say whether he backed Trump's false claims to have won the 2020 election against Biden.
Minnesota Governor Walz accused him of a "damning non-answer" and blasted Trump over the January 6, 2021 attacks on the US Capitol by pro-Trump supporters.
There was also a fiery moment when Vance, who mostly restrained his persona as Trump's attack dog, had his microphone briefly muted when the moderators tried to factcheck him on migration.
In Asia on Wednesday, the Nikkei 225 index in Tokyo was down 2.3%, while the Hang Seng index was up 4.9%. The S&P/ASX 200 in Sydney closed down 0.2%.
Gold was quoted at USD2,655.25 an ounce early on Wednesday, lower than USD2,660.31 on Tuesday.
Brent oil was trading at USD74.70 a barrel early on Wednesday, higher than USD74.51 late Tuesday.
President Joe Biden said that the US was "fully supportive" of Israel after Iran's ballistic missile attacks, describing Tehran's assault as "defeated and ineffective".
"The attack appears to have been defeated and ineffective, and this is a testament to Israeli military capability and the US military," Biden told reporters at the White House.
"Make no mistake, the US is fully, fully, fully supportive of Israel."
Asked by reporters what the response towards Iran would be, Biden replied: "That's in active discussion right now. That remains to be seen."
In Wednesday's corporate calendar, there are half-year results from Inspiration Health, JD Sports Fashion, Pinewood Technologies, and Saga. There is also a trading statement from Topps Tiles.
In the economic calendar on Wednesday, there are a number of speeches from European Central Bank members, followed by unemployment and EIA crude oil stocks data from the US.
By Holly Beveridge, Alliance News senior reporter
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