28th Aug 2025 06:54
(Alliance News) - Stocks in London are set to open higher on Thursday, ahead of unemployment, home sales, GDP and other data from the US.
In the UK, car production rose for a second successive month in July, but a fall in commercial vehicles saw overall numbers down on the previous year. Figures from the Society of Motor Manufacturers & Traders showed 69,127 cars were made, an annual increase of 5.6%. But commercial vehicle output fell by 81%, bringing the total production number down by 11% year-on-year to 72,006.
Also, the UK Treasury is considering a tax increase on landlords through national insurance on rental income, The Times reported. Officials are said to be looking at proposals to hike a levy on property earnings in the hope of raising GBP2 billion.
IG says futures indicate the FTSE 100 to open up 13.3 points, 0.1%, on Thursday. The index of London large-caps closed down 0.1% at 9,255.50 on Wednesday.
Sterling was quoted at USD1.3500 early Thursday, higher than USD1.3469 at the London equities close on Wednesday.
The euro traded at USD1.1597 early Thursday, lower than USD1.1606 late Wednesday. Against the yen, the dollar was quoted lower at JPY147.16 versus JPY147.73.
In the US on Wednesday, Wall Street ended higher, with the Dow Jones Industrial Average up 0.3%, the S&P 500 up 0.2% and the Nasdaq Composite up 0.2%.
In Asia on Thursday, the Nikkei 225 index in Tokyo was up 0.6%. In China, the Shanghai Composite was down 0.2%, while the Hang Seng index in Hong Kong was down 1.5%. The S&P/ASX 200 in Sydney closed up 0.1%.
Gold was quoted at USD3,388.29 an ounce early Thursday, higher than USD3,387.91 on Wednesday.
Brent oil was trading at USD66.81 a barrel early Thursday, lower than USD67.55 late Wednesday.
In Thursday's corporate calendar, Chesnara and Hunting release half-year results.
In the economic calendar on Thursday, the eurozone has money supply and consumer confidence data.
By Emma Curzon, Alliance News reporter
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