25th Aug 2026 06:53
(Alliance News) - Stocks in London are set to open higher on Tuesday, while overseas US Treasury Secretary Scott Bessent has laid out plans for the "economic asphyxiation" of Iran.
IG says futures indicate the FTSE 100 to open up 15.8 points, 0.2%, on Tuesday. The index of London large-caps closed up 37.76 points, 0.4%, at 10,854.32 on Monday.
The Treasury Department announced expanded secondary sanctions and issued new ones against 60 individuals, companies and vessels.
Meanwhile in the UK, Prime Minister Andy Burnham has refused to rule out tax rises in the next budget, saying he "won't be unrealistic" about the state of the public finances. Burnham said the UK was in a "challenging position" but insisted he would take a "careful approach" to the economy.
Also, Burnham has told Bloomberg that he is planning to travel to the US in September to join European leaders in lobbying President Donald Trump for support for Ukraine's defence.
Sterling was quoted at USD1.3624 early Tuesday, lower than USD1.3639 at the London equities close on Monday. Against the euro, sterling softened to EUR1.1685 from EUR1.1689 a day prior.
The euro traded at USD1.1655 early Tuesday, lower than USD1.1669 late Monday. Against the yen, the dollar was quoted higher at JPY159.31 versus JPY159.13.
In the US on Monday, Wall Street ended mixed, with the Dow Jones Industrial Average up 0.3%, the S&P 500 down 0.3% and the Nasdaq Composite down 0.8%.
In Asia on Tuesday, the Nikkei 225 index in Tokyo was up 0.4%. In China, the Shanghai Composite was up 0.1%, while the Hang Seng index in Hong Kong was down 0.2%. The S&P/ASX 200 in Sydney was up 0.7%.
Gold was quoted at USD4,640.51 an ounce early Tuesday, lower than USD4,670.28 on Monday.
Brent oil was trading at USD90.41 a barrel early Tuesday, lower than USD92.74 late Monday.
In Tuesday's corporate calendar, Chesnara releases half-year results, as does Nasdaq-listed Zoom, while Intuit releases annual results.
In the economic calendar on Tuesday, Germany has its gross domestic product release and France has consumer confidence data.
By Emma Curzon, Alliance News reporter
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