26th Aug 2025 06:59
(Alliance News) - Stocks in London are set to open in the red on Tuesday, while in the US observers react to US President Trump's firing of Federal Reserve Governor Lisa Cook.
Trump cited the Federal Reserve Act, and allegations of false statements on Cook's mortgage agreements, as justification.
IG says futures indicate the FTSE 100 to open down 18.7 points, 0.2%, on Tuesday. The index of London large-caps closed 0.1% higher at 9,321.40 on Friday.
UK shop prices increased in July to its highest rate since March last year, the British Retail Consortium said.
Overall shop price inflation hit 0.9% in August, up from growth of 0.7% in July. This is above the three-month average of 0.6%. Food inflation accelerated to 4.2% in August from 4.0% in July, and above the three-month average of 3.9%.
Sterling was quoted at USD1.3465 early Tuesday, lower than USD1.3539 at the London equities close on Friday.
The euro traded at USD1.1638 early Tuesday, lower than USD1.1726 late Monday. Against the yen, the dollar was quoted higher at JPY147.75 versus JPY146.61.
In the US on Monday, Wall Street ended lower, with the Dow Jones Industrial Average down 0.8%, the S&P 500 down 0.4% and the Nasdaq Composite down 0.2%.
In Asia on Tuesday, the Nikkei 225 index in Tokyo was down 1.0%. In China, the Shanghai Composite was down 1.32 points, while the Hang Seng index in Hong Kong was down 0.3%. The S&P/ASX 200 in Sydney closed down 0.4%.
Gold was quoted at USD3,376.33 an ounce early Tuesday, higher than USD3,375.22 on Friday.
Brent oil was trading at USD68.42 a barrel early Tuesday, higher than USD67.59 late Friday.
In Tuesday's corporate calendar, there are half-year results from Ashtead Technology, Bunzl, and MTI Wireless Edge.
In the economic calendar on Tuesday, the US has durable goods orders and house price data.
By Emma Curzon, Alliance News reporter
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