26th Jun 2025 06:56
(Alliance News) - Stocks in London are set to open lower on Thursday, while the UK government has unveiled a new trade plan aiming to boost exports and protect domestic firms.
The Department for Business & Trade has pledged to introduce new tools and safeguards to help protect UK firms against the threat of a shifting global trade environment. It is also expanding the capacity of UK Export Finance – the country's export credit agency – by GBP20 billion to a total of GBP80 billion.
IG says futures indicate the FTSE 100 to open down 9.4 points, 0.1%, on Thursday. The index of London large-caps closed down 0.5% at 8,718.75 on Wednesday.
Sterling was quoted at USD1.3703 early Thursday, higher than USD1.3622 at the London equities close on Wednesday.
The euro traded at USD1.1679 early Thursday, higher than USD1.1626 late Wednesday. Against the yen, the dollar was quoted lower at JPY144.80 versus JPY145.60.
In the US on Wednesday, Wall Street ended mixed, with the Dow Jones Industrial Average down 0.3%, the S&P 500 down 0.02 points and the Nasdaq Composite up 0.3%.
Federal Reserve Chair Jerome Powell said that he does not expect the US economy to undergo "stagflation" – a period of slow growth and higher inflation – although the central bank is monitoring conditions.
Powell's comments before the Senate Banking Committee came shortly after the Fed cut its growth forecast for 2025 this month, while lifting projections of inflation this year.
In Asia on Thursday, the Nikkei 225 index in Tokyo was up 1.5%. In China, the Shanghai Composite was up 0.48 points, while the Hang Seng index in Hong Kong was down 0.7%. The S&P/ASX 200 in Sydney closed down 0.1%.
Gold was quoted at USD3,335.91 an ounce early Thursday, higher than USD3,323.77 on Wednesday.
Brent oil was trading at USD67.84 a barrel early Thursday, lower than USD68.18 late Wednesday.
In Thursday's corporate calendar, Cake Box Holdings and Currys release full-year results.
In the economic calendar on Thursday, there are several US releases including quarterly personal consumption expenditures, GDP, wholesale inventories and initial jobless claims.
By Emma Curzon, Alliance News reporter
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