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Source: Peshkova, Shutterstock
Summary
- FTSE 100 is set to open higher on 30 March buoyed by Asian equities mostly in the green
- FTSE 100 futures were trading up by 0.31%
- Oil prices fluctuated ahead of OPEC+ meeting later this week and after the Suez Canal was cleared on Monday and reopened for traffic
The London key index FTSE 100 is set to open higher on Tuesday, tracking positive cues from FTSE 100 futures and Asian equities. The FTSE 100 futures were trading up by 0.31 per cent at 0:47 HRS GMT this morning.
The index last closed at 6,736.17, down by 4.42 points or 0.07 per cent on Monday, weighed down by bank shares slipping in the red due to shockwaves after US hedge fund Archegos Capital Management US$ 20 billion blowup last week.
(Source: EODHD/Others, Thomson Reuters)
Asian peers mostly up
Asian stocks were mostly up on Tuesday as investors sentiments were raised by the US’ rapid vaccine roll-out, which mostly shook off worries about further impacts from the US hedge funds defaulting on Monday. China’s SSE Composite Index was up by 0.36 per cent. Hong Kong’s key index Hang Seng was up by 1.07 per cent, while South Korea’s Kospi Composite index was trading higher by 0.99 per cent. India’s Nifty 50 shares were up by 1.72 per cent, while Japan’s key index Nikkei 225 was trading marginally lower by 0.08 per cent, led by a drop in banking stocks; also Australia’s ASX 200 ended down by 0.90 per cent, earlier today.
Oil
Oil prices fluctuated as traders are awaiting cues from the upcoming OPEC+ meeting to be held later this week. Additionally, the Suez Canal blockage was cleared on Monday, allowing traffic to resume.
Brent crude oil June 2021 futures contract was at USD 64.82, down by 0.12 per cent at 06:35 AM GMT, while West Texas Intermediate crude oil May futures were at USD 61.50 per barrel, down by 0.10 per cent for the same period.
US Markets
US futures rose, with the Dow Jones Futures’ US 30 Contract up by 0.12 per cent and the S&P 500’s US 500 Contract adding up 0.08 per cent at around 06:49 HRS GMT. The Nasdaq futures US Tech 100 contract was trading in the red, down by 0.15 per cent at around the same time.
The Dow Jones Industrial Average index last closed up by 0.30 per cent, while the S&P 500 index ended lower by 0.09 per cent and the Nasdaq Composite index closed down by 0.60 per cent.
Sterling rallies
(Source: EODHD/Others, Thomson Reuters)
The GBP/USD currency pair was up by 0.024 per cent, trading at 1.3765 at around 0700 AM GMT on Friday. The pair’s previous close stood at 1.376. The pair’s trading range was between a low of 1.376 and a high of 1.378, during the session so far.
Meanwhile, the GBP/EUR currency pair was trading higher by 0.03 per cent, at 1.1701 at around 07:01 AM GMT. The UK central bank’s reference spot exchange rate was fixed at 1.3792 USD and 1.1691 EUR against 1 GBP, on 26 March.
Upcoming cues
Domestically, the London market is awaiting cues from ongoing corporate earnings results from companies such as Animalcare Group Plc, Barr, Central Asia Metals and more.
On the international front, the EU is set to unveil its consumer confidence, economic sentiment indicator, industrial confidence and services sentiment later today. Meanwhile, the US is also slated to announce its house price index and consumer confidence today.
