The FTSE 100 is expected to start 33 points higher at around 9,725, according to spread-betters, even as broader market sentiment shows signs of hesitancy.
Asian indices were mixed on Thursday, with early gains fading despite new US data reinforcing expectations that the Federal Reserve will cut interest rates for a third consecutive meeting next week.
Currencies saw minimal movement, while geopolitical focus shifted to a new round of Ukraine-related diplomacy. Donald Trump described his discussions in Moscow with Vladimir Putin as “reasonably good”, Kyiv confirmed that fresh negotiations with the US are under way, and Emmanuel Macron used a visit to Beijing to urge Xi Jinping to support efforts toward a ceasefire.
On the markets side, Wall Street finished in positive territory overnight, Asian trading was mixed, and US Treasury yields were broadly steady.
Rate-cut expectations have risen to roughly 90%, supported by Fed officials who have emphasised that job protection now takes precedence over further inflation-fighting. The narrative was strengthened by ADP payroll data showing a surprise loss of 32,000 US jobs in November, compared with forecasts for a 10,000 increase. “Hiring has been choppy,” ADP’s Nela Richardson noted, pointing to a cooling labour market.
Among major Asian markets, Tokyo, Sydney and Manila advanced, while Hong Kong, Shanghai, Seoul and Singapore slipped.
