25th Feb 2025 06:58
(Alliance News) - Stocks in London are set to open lower on Tuesday, following claims by US President Donald Trump that tariffs on Canada and Mexico are moving forward as planned.
IG says futures indicate the FTSE 100 to open down 10.7 points, 0.1%, on Tuesday. The index of London large-caps closed down 0.39 points at 8,658.98 on Monday.
Sterling was quoted at USD1.2628 early Tuesday, lower than USD1.2634 at the London equities close on Monday.
The euro traded at USD1.0474 early Tuesday, slightly higher than USD1.0471 late Monday. Against the yen, the dollar was quoted higher at JPY149.81 versus JPY149.64.
In the US on Monday, Wall Street ended mixed, with the Dow Jones Industrial Average up 0.1%, the S&P 500 down 0.5% and the Nasdaq Composite down 1.2%.
Trump has told reporters that tariffs of up to 25% on Canadian and Mexican imports are moving forward as planned, with a previously negotiated pause set to end next Tuesday.
However, SPI's Stephen Innes commented that "markets have learned the hard way not to react to every Trump remark. In Trump 1.0, traders would whip into hysteria over every tweet or off-the-cuff comment. Now, they've resigned themselves to trading what he does, not what he says.
"Filtering out headline panic and focusing on tangible policy shifts doesn't just make for smarter trades—it eliminates the need for emotional, knee-jerk positioning. But make no mistake, actions will speak louder than words."
In Asia on Tuesday, the Nikkei 225 index in Tokyo was down 1.3%. In China, the Shanghai Composite was down 1.0%, while the Hang Seng index in Hong Kong was down 0.7%. The S&P/ASX 200 in Sydney closed down 0.7%.
Gold was quoted at USD2,935.37 an ounce early Tuesday, lower than USD2,942.87 on Monday.
Brent oil was trading at USD75.02 a barrel early Tuesday, higher than USD74.85 late Monday.
In Tuesday's corporate calendar, Croda International and Unite Group release full-year results.
In the economic calendar on Tuesday, Germany releases GDP data and there's a slew of US releases including consumer confidence, the house price index and the Richmond Fed manufacturing index.
By Emma Curzon, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.