5th Oct 2026 06:52
(Alliance News) - Stocks in London are set to open higher at the start of the week, after Friday's tepid US jobs report cooled Federal Reserve rate hike bets.
IG says futures indicate the FTSE 100 to open 30.6 points higher, 0.3%, at 10,492.55 on Monday. The index of London large-caps ended up 33.68 points, 0.3%, at 10,461.95 on Friday.
In Tokyo, the Nikkei 225 was up 2.0% on Monday. Sydney's S&P/ASX 200 was up 0.1%. The Hang Seng Index in Hong Kong was flat. Financial markets in Shanghai remain closed.
"Asian equities are lining up for a firmer start, riding the coattails of Friday's Wall Street bounce after softer US data took some of the sting out of the Fed's near-term tightening threat," Quintex Intel analyst Stephen Innes commented.
"The US data has landed in about the sweetest spot equities could have asked for. September payrolls rose by just 29,000, unemployment edged up to 4.2%, and the recent hiring trend has settled into that not-too-hot, not-too-cold Goldilocks porridge zone of roughly 40,000 to 60,000 jobs a month."
The dollar surrendered some ground in the wake of the payrolls reading on Friday but was back on the up on Monday.
Sterling faded to USD1.3207 early Monday, from USD1.3233 at the time of the London equities close on Friday. Against the euro, it rose to EUR1.1800 from EUR1.1750.
The single currency fell to USD1.1188 from USD1.1260 on Friday. It sank to USD1.1162 earlier on Monday, its lowest level since May 2025. Against the yen, the dollar rose to JPY157.99 from JPY157.70.
"Concerns about the sustainability of France's public debt are becoming more widespread. They have now started to weigh on the euro as well, which had remained more or less unaffected by the turmoil in bond markets in recent months," Commerzbank analyst Thu Lan Nguyen commented.
The yield on the US 10-year Treasury was quoted at 5.26% early Monday, steady from late Friday afternoon London time. The 30-year yield was at 5.62%, widening from 5.61%.
A barrel of Brent rose to USD101.45 on Monday from USD100.50 late Friday afternoon. Gold declined to USD4,137.91 an ounce from USD4,143.18.
Iran's top diplomat insisted on Sunday that there would be no military solution to the US' war against the Islamic republic, with talks on ending the conflict apparently at an impasse.
The main point of contention remains Iran's attempt to blockade the Strait of Hormuz, a vital conduit for Gulf oil and gas where a UK maritime agency reported on Sunday another tanker was struck by an unknown projectile.
"If our enemies again choose the path of military confrontation, our response will be stronger than before, and we will defend ourselves with even more force," Iranian Foreign Minister Abbas Araghchi said at a gathering of foreign ambassadors.
"There is no military solution, nor any solution based on new sanctions," he continued, adding "only negotiations based on justice and fairness" could end the conflict.
Monday's global economic calendar has a slew of services and composite PMI reports, including the UK at 0930 BST and the ISM services PMI at 1500 BST.
BT Group is closing in on a deal to acquire broadband provider TalkTalk, the Financial Times reported on Monday.
A deal could be announced as soon as Monday, the FT said, citing two people familiar with the matter.
According to the FT, BT agreed a proposal on Sunday with TalkTalk shareholders, including Ares Management.
By Eric Cunha, Alliance News news editor
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