3rd Jun 2025 06:58
(Alliance News) - Stocks in London are set to open higher on Tuesday, as investors eye pending talks between US President Donald Trump and Chinese President Xi Jinping which could lead to a thaw in trade tensions.
Also, UK Trade Secretary Jonathan Reynolds is set to meet US officials on Tuesday as the UK aims to set a timeline for its exemption from President Donald Trump's tariffs.
Keir Starmer and Trump announced the broad terms of an agreement last month that would exempt the UK from some of the US president's tariffs on steel and cars while increasing market access for other goods.
IG says futures indicate the FTSE 100 to open up 11.8 points, 0.1%, on Tuesday. The index of London large-caps closed up 1.88 points at 8,774.26 on Monday.
Sterling was quoted at USD1.3521 early Tuesday, lower than USD1.3546 at the London equities close on Monday.
The euro traded at USD1.1419 early Tuesday, lower than USD1.1429 late Monday. Against the yen, the dollar was quoted higher at JPY142.92 versus JPY142.75.
In the US on Monday, Wall Street ended higher, with the Dow Jones Industrial Average [up 0.1%, the S&P 500 up 0.4% and the Nasdaq Composite up 0.7%.
In Asia on Tuesday, the Nikkei 225 index in Tokyo was up 0.1%. In China, the Shanghai Composite was up 0.3%, while the Hang Seng index in Hong Kong was up 1.1%. The S&P/ASX 200 in Sydney closed up 0.5%.
Gold was quoted at USD3,367.05 an ounce early Tuesday, lower than USD3,371.47 on Monday.
Brent oil was trading at USD64.75 a barrel early Tuesday, higher than USD64.58 late Monday.
In Tuesday's corporate calendar, Chemring releases half-year results and Pennon has full-year results. Further, British American Tobacco will publish a first financial half trading statement.
In the economic calendar on Tuesday, the eurozone has unemployment and consumer inflation data.
By Emma Curzon, Alliance News reporter
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