25th Jul 2025 06:51
(Alliance News) - London's FTSE 100 is set to open lower on Friday, as new data shows UK consumer confidence sank further in July.
IG says futures indicate the FTSE 100 to open down 6.3 points, 0.1%, at 9,132.07 on Friday. The index of London large-caps closed up 76.88 points, 0.9%, at 9,138.37 on Thursday.
Sterling was quoted at USD1.3497 early Friday, lower than USD1.3571 at the London equities close on Thursday.
The euro traded at USD1.1744 early Friday, higher than USD1.1737 late Thursday. Against the yen, the dollar was quoted up at JPY147.10 versus JPY146.33.
UK consumer confidence edged lower in July amid concerns over the economic outlook, GfK reported Friday.
The GfK consumer confidence index fell to minus 19 in July, down from minus 18 in June, and slightly above the consensus forecast cited by FXStreet of minus 20. The index stood at minus 13 in July 2024.
Neil Bellamy, consumer insights director at GfK, said: "The key measures on personal finances, the economy and purchase intentions are flat in July, and many will conclude that consumers are in a cautious wait-and-see mood. But the data suggests that some people may be sensing stormy conditions ahead.
"With speculation growing over possible tax rises in the Autumn Budget, and price pressure contributing not just to higher inflation already but also to the likelihood of worse inflation to come, the news is worrying."
In the US on Thursday, Wall Street ended mixed, with the Dow Jones Industrial Average losing 0.7%, the S&P 500 rising 0.1% and the Nasdaq Composite gaining 0.2%.
The yield on the US 10-year Treasury was quoted at 4.39%, narrowed from 4.40% on Thursday. The yield on the US 30-year Treasury was quoted at 4.93%, narrowed from 4.94%.
"The upcoming Q2 earnings season will be a key catalyst for short-term market direction. Should major US companies continue to deliver strong results—outperforming expectations in revenue and margins—the index could receive further support to extend its rally. Conversely, profit warnings, weak consumer demand, or rising cost pressures could trigger renewed selling pressure," commented XS.com analyst Linh Tran.
In Asia on Friday, the Nikkei 225 index in Tokyo faded 0.9%.
The Bank of Japan reported that Tokyo's annual consumer price index inflation rate slowed to 2.9% in July from 3.1% in June.
Meanwhile, for all of Japan, services producer price index inflation slowed to 3.2% on-year in June from 3.4% in May, according to preliminary figures.
In China, the Shanghai Composite shed 0.3%, while the Hang Seng index in Hong Kong was down 1.0%. The S&P/ASX 200 in Sydney was 0.5% lower.
Gold was quoted at USD3,357.24 an ounce early Friday, lower than USD3,412.38 on Thursday.
Brent oil was trading at USD69.52 a barrel early Friday, higher than USD68.24 late Thursday.
In Friday's corporate calendar, half-year results from lender NatWest, property portal Rightmove and a trading statement from pub operator Mitchells & Butlers.
In the economic calendar on Friday, UK retail and consumer confidence data plus US durable goods orders figures.
By Emily Parsons, Alliance News reporter
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