8th Apr 2025 06:56
(Alliance News) - The FTSE 100 is set to open higher on Tuesday, with UK Prime Minister Keir Starmer set to be grilled by MPs over the global impact of US tariffs.
"We're facing an avalanche of headlines: who's ready to negotiate, who's not, what did Trump say, what did he mean… It's nearly impossible to predict the next move," commented Swissquote's Ipek Ozkardeskaya.
Starmer is expected to hold a Cabinet meeting of his most senior ministers in Downing Street on Tuesday morning, before he will appear before the Liaison Committee of senior parliamentarians on the last day the Commons sits before it heads into the Easter recess.
The UK is among the nations arguing its case for a carve-out from the trade tax on goods going into the US.
IG says futures indicate the FTSE 100 to open up 175.0 points, 2.3%, on Tuesday. The index of London large-caps closed down 4.4% at 7,702.08 on Monday.
Sterling was quoted at USD1.2768 early Tuesday, lower than USD1.2931 at the London equities close on Monday.
The euro traded at USD1.0957 early Tuesday, lower than USD1.0994 late Monday. Against the yen, the dollar was quoted higher at JPY147.67 versus JPY145.80.
In the US on Monday, Wall Street ended mixed, with the Dow Jones Industrial Average down 0.9%, the S&P 500 down 0.2% and the Nasdaq Composite up 0.1%.
In Asia on Tuesday, the Nikkei 225 index in Tokyo was up 5.7%. In China, the Shanghai Composite was up 0.2%, while the Hang Seng index in Hong Kong was up 0.2%. The S&P/ASX 200 in Sydney closed up 1.9%.
Gold was quoted at USD3,004.19 an ounce early Tuesday, lower than USD3,025.91 on Monday.
Brent oil was trading at USD64.84 a barrel early Tuesday, lower than USD65.38 late Monday.
In Tuesday's corporate calendar, there is a court hearing regarding TI Fluid Systems' planned takeover by ABC Technologies Acquisitions.
In the economic calendar on Tuesday, France has trade balance data and the US has the Redbook index read.
By Emma Curzon, Alliance News reporter
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