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LONDON MARKET EARLY CALL: Stocks called up ahead of UK company updates

26th Jan 2023 06:57

(Alliance News) - Stocks in London were set to open higher on Thursday, as investors look ahead to a big day for UK company updates.

IG says futures indicate the FTSE 100 index of large-caps to open up 26.73 points, or 0.3% ,at 7,771.6 on Thursday. The FTSE 100 index closed down 12.49 points, or 0.2%, at 7,744.87 on Wednesday.

Sterling was quoted at USD1.2400 early Thursday, higher than USD1.2354 at the London equities close on Wednesday. The euro traded at USD1.1355 early Thursday, higher than USD1.0886 late Wednesday. Against the yen, the dollar was quoted at JPY129.37, down versus JPY129.78.

Wall Street ended largely flat on Wednesday, with the Dow Jones Industrial Average and the S&P 500 flat and the Nasdaq Composite down 0.2%

In Tokyo on Thursday, the Nikkei 225 index was down 0.1%.

In China, the Hang Seng index in Hong Kong was up 2.1%.

Stock markets in China have been shut all week to mark Lunar New Year. Hong Kong re-opened on Thursday, while Shanghai will remain closed until Monday.

The number of daily Covid-19 deaths in China has fallen by nearly 80% since the start of the month, authorities have said, in a sign that the country's unprecedented infection surge may have started to abate.

The CDC last week said nearly 13,000 people had died from Covid-related illnesses between January 13 and 19, adding to a previous announcement that around 60,000 people had succumbed to the virus in hospitals in just over a month.

But recent local government announcements and media reports have indicated that the wave may have started to recede since peaking in late December and early January, when hospitals and crematoriums were packed.

There were 896 deaths attributable to the virus in hospitals on Monday, a decline of 79% from January 4.

In Sydney, financial markets were closed on Thursday to celebrate Australia Day.

Gold was quoted at USD1,946.95 an ounce early Thursday in London, higher than USD1,933.82 late on Wednesday. Brent oil was trading at USD86.20 a barrel, up from USD86.11.

In Thursday's UK corporate calendar, there are trading statements from tonic water maker Fevertree Drinks and estate agency Foxtons, as well as third-quarter results from low-cost airline Wizz Air.

In the economic calendar, the US will publish the weekly unemployment claims report at 1330 GMT.

By Sophie Rose, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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