LONDON MARKET EARLY CALL: FTSE 100 to fall as oil up amid uncertainty
Idag, 08:00
(Alliance News) - Stocks in London are set to open lower on Thursday, amid ongoing uncertainty in the Middle East, ahead of a barrage of 'flash' PMI readings and UK public borrowing figures.
IG says futures indicate the FTSE 100 to open down 45.3 points, 0.4%, at 10,431.16 on Thursday. The index of London large-caps closed down 21.63 points, 0.2%, at 10,476.46 on Wednesday.
Sterling was at USD1.3491 on Thursday morning, down from USD1.3506 at the London equities close on Wednesday. Against the euro, sterling was little changed at EUR1.1527 from EUR1.1525.
The euro was a little lower at USD1.1703 from USD1.1722. Against the yen, the dollar was higher at JPY159.51 versus JPY159.39.
Iran said it would not reopen the Strait of Hormuz as long as the US naval blockade remained in place, calling it a "blatant violation" of the ceasefire between the longtime foes.
Iran's Revolutionary Guards meanwhile said their naval forces had seized two container ships trying to cross the strategic strait, a move US President Donald Trump does not consider to be a ceasefire violation because the vessels are not American or Israeli, the White House said.
Despite the latest series of attacks on maritime traffic in the Gulf, a second round of US-Iran talks could take place within the next three days, the New York Post reported, citing Trump and unnamed Pakistani sources.
Brent oil was trading higher at USD103.10 a barrel on Thursday morning from USD101.42 on Wednesday.
Pepperstone analyst Michael Brown said: "Yes, the Strait of Hormuz remaining blocked during an indefinitely-long ceasefire is objectively a negative macro catalyst, given that it brings with it inflationary tailwinds, and growth headwinds.
"However, risk assets seem to be relatively comfortable with that backdrop for the time being, and will probably remain so, continuing to take the path of least resistance to the upside so long as light remains visible at the end of the tunnel, and barring a material further deterioration in the situation on the ground, which appears unlikely."
Back in the UK, consumer confidence remained deeply negative in April, with households increasingly pessimistic about their finances despite expectations of higher spending, according to the British Retail Consortium.
Data from the BRC-Opinium consumer sentiment monitor showed expectations for the state of the UK economy over the next three months held at minus 53 points in April, unchanged from March and the lowest level on record.
Expectations for personal finances deteriorated further, falling to minus 21 points from minus 17, also marking a record low.
In the US on Wednesday, Wall Street ended higher, with the Dow Jones Industrial Average up 0.7%, the S&P 500 1.1% higher and the Nasdaq Composite gained 1.6%
In Asia on Thursday, the Nikkei 225 in Tokyo was down 0.9%. In China, the Shanghai Composite was 0.3% lower, while the Hang Seng Index in Hong Kong lost 0.9%. The S&P/ASX 200 in Sydney was 0.7% lower.
Overnight, Tesla reported a stronger first quarter with adjusted earnings ahead of estimates, leading shares higher despite a miss on revenue.
The Austin, Texas-based carmaker and electronics company said revenue was at USD22.39 billion for the first quarter, up 16% from USD19.34 billion a year ago but below the USD22.64 billion LSEG-compiled consensus.
First quarter net income advanced to USD477 million from USD409 million. Diluted earnings per share improved to USD0.13 from USD0.12. Adjusted earnings per share was USD0.41, ahead of the USD0.37 consensus.
Gold was lower at USD4,712.00 an ounce early on Thursday from USD4,734.05 late Wednesday.
Thursday's global economic calendar has a slew of flash composite PMI reports including the UK at 0930 BST. In the UK, public sector borrowing figures are also due shortly, while in the US, weekly jobless claims numbers will be released.
Thursday's local corporate calendar has full-year results from food retailer J Sainsbury and travel retailer WH Smith, plus trading statements from stock exchange operator and data provider London Stock Exchange Group, data and analytics provider Relx and real estate investment trust Segro.
By Michael Hennessey, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Ämnen i artikeln
LONDON MARKET EARLY CALL: FTSE 100 to fall as oil up amid uncertainty
Idag, 08:00
(Alliance News) - Stocks in London are set to open lower on Thursday, amid ongoing uncertainty in the Middle East, ahead of a barrage of 'flash' PMI readings and UK public borrowing figures.
IG says futures indicate the FTSE 100 to open down 45.3 points, 0.4%, at 10,431.16 on Thursday. The index of London large-caps closed down 21.63 points, 0.2%, at 10,476.46 on Wednesday.
Sterling was at USD1.3491 on Thursday morning, down from USD1.3506 at the London equities close on Wednesday. Against the euro, sterling was little changed at EUR1.1527 from EUR1.1525.
The euro was a little lower at USD1.1703 from USD1.1722. Against the yen, the dollar was higher at JPY159.51 versus JPY159.39.
Iran said it would not reopen the Strait of Hormuz as long as the US naval blockade remained in place, calling it a "blatant violation" of the ceasefire between the longtime foes.
Iran's Revolutionary Guards meanwhile said their naval forces had seized two container ships trying to cross the strategic strait, a move US President Donald Trump does not consider to be a ceasefire violation because the vessels are not American or Israeli, the White House said.
Despite the latest series of attacks on maritime traffic in the Gulf, a second round of US-Iran talks could take place within the next three days, the New York Post reported, citing Trump and unnamed Pakistani sources.
Brent oil was trading higher at USD103.10 a barrel on Thursday morning from USD101.42 on Wednesday.
Pepperstone analyst Michael Brown said: "Yes, the Strait of Hormuz remaining blocked during an indefinitely-long ceasefire is objectively a negative macro catalyst, given that it brings with it inflationary tailwinds, and growth headwinds.
"However, risk assets seem to be relatively comfortable with that backdrop for the time being, and will probably remain so, continuing to take the path of least resistance to the upside so long as light remains visible at the end of the tunnel, and barring a material further deterioration in the situation on the ground, which appears unlikely."
Back in the UK, consumer confidence remained deeply negative in April, with households increasingly pessimistic about their finances despite expectations of higher spending, according to the British Retail Consortium.
Data from the BRC-Opinium consumer sentiment monitor showed expectations for the state of the UK economy over the next three months held at minus 53 points in April, unchanged from March and the lowest level on record.
Expectations for personal finances deteriorated further, falling to minus 21 points from minus 17, also marking a record low.
In the US on Wednesday, Wall Street ended higher, with the Dow Jones Industrial Average up 0.7%, the S&P 500 1.1% higher and the Nasdaq Composite gained 1.6%
In Asia on Thursday, the Nikkei 225 in Tokyo was down 0.9%. In China, the Shanghai Composite was 0.3% lower, while the Hang Seng Index in Hong Kong lost 0.9%. The S&P/ASX 200 in Sydney was 0.7% lower.
Overnight, Tesla reported a stronger first quarter with adjusted earnings ahead of estimates, leading shares higher despite a miss on revenue.
The Austin, Texas-based carmaker and electronics company said revenue was at USD22.39 billion for the first quarter, up 16% from USD19.34 billion a year ago but below the USD22.64 billion LSEG-compiled consensus.
First quarter net income advanced to USD477 million from USD409 million. Diluted earnings per share improved to USD0.13 from USD0.12. Adjusted earnings per share was USD0.41, ahead of the USD0.37 consensus.
Gold was lower at USD4,712.00 an ounce early on Thursday from USD4,734.05 late Wednesday.
Thursday's global economic calendar has a slew of flash composite PMI reports including the UK at 0930 BST. In the UK, public sector borrowing figures are also due shortly, while in the US, weekly jobless claims numbers will be released.
Thursday's local corporate calendar has full-year results from food retailer J Sainsbury and travel retailer WH Smith, plus trading statements from stock exchange operator and data provider London Stock Exchange Group, data and analytics provider Relx and real estate investment trust Segro.
By Michael Hennessey, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Ämnen i artikeln
Rapporter
Analys
Rapporter
Analys
Marknadsöversikt
1 DAG %
Senast
1 mån
-160x160.jpg&w=3840&q=75)
