22nd Aug 2025 06:56
(Alliance News) - Stocks in London are set to open slightly higher on Friday, ahead of Federal Reserve Chair Jerome Powell's highly anticipated speech at the ongoing Jackson Hole symposium.
Meanwhile in the UK, the GfK consumer confidence index improved in August after the Bank of England's August rate cut, to minus 17 in August from minus 19 in July.
Consumer expectations for their personal financial situation over the next 12 months rose to plus 5 from plus 2, but expectations for the general economic situation over the next year declined to minus 30 from minus 29.
IG says futures indicate the FTSE 100 to open up 6.0 points, 0.1%, on Friday. The index of London large-caps closed up 0.2% at 9,309.20 on Thursday.
Sterling was quoted at USD1.3395 early Friday, lower than USD1.3426 at the London equities close on Thursday.
The euro traded at USD1.1587 early Friday, lower than USD1.1619 late Thursday. Against the yen, the dollar was quoted higher at JPY148.63 versus JPY148.21.
In the US on Thursday, Wall Street ended lower, with the Dow Jones Industrial Average down 0.3%, the S&P 500 down 0.4% and the Nasdaq Composite down 0.3%.
In Asia on Friday, the Nikkei 225 index in Tokyo was down 0.1%. In China, the Shanghai Composite was up 0.9%, while the Hang Seng index in Hong Kong was up 0.4%. The S&P/ASX 200 in Sydney closed down 0.4%.
Japan's consumer price inflation slowed in July, data from the Statistics Bureau of Japan showed.
The national consumer price index eased to 3.1% year-on-year in July from 3.3% in June. Excluding fresh food prices, the reading was the same and above the 3.0% consensus cited by FXStreet.
However, the rate continues to exceed the Bank of Japan's 2% target.
Gold was quoted at USD3,330.78 an ounce early Friday, lower than USD3,343.46 on Thursday.
Brent oil was trading at USD67.67 a barrel early Friday, higher than USD67.13 late Thursday.
In Friday's corporate calendar, Foresight Solar Fund and Supermarket Income REIT are due to pay dividends.
In the economic calendar on Friday, Germany has a GDP reading, and Ireland has wholesale price data.
By Emma Curzon, Alliance News reporter
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