The FTSE 100 is set to open lower on Friday, putting the index on course to end the week on the back foot after a strong finish in the previous session.
Futures indicate the London benchmark will slip by around 23 points at the open, following Thursday’s 63.45-point rise that took the index to a close of 9,837.77 after the Bank of England’s interest rate cut.
Overnight, Wall Street posted modest gains as investors welcomed signs that US inflation may be cooling. The Nasdaq climbed 1.4%, the S&P 500 added 0.8% and the Dow Jones Industrial Average edged 0.1% higher.
Asian markets were broadly higher this morning, led by a 1% rise in Japan’s Nikkei, while Hong Kong’s Hang Seng gained 0.95%.
The yen was volatile against the dollar after the Bank of Japan lifted interest rates to their highest level in three decades, following fresh data showing inflation remains elevated.
Japanese shares rose more than 1% after the BoJ raised borrowing costs to their highest level since 1995, just hours after figures showed inflation held steady at 3% in November, well above the central bank’s 2% target.
