London stocks are poised for a bullish start on Wednesday as anticipation builds for Rachel Reeves’ Budget statement at 12.30pm.
Futures suggest the FTSE 100 will open 32 points higher, extending Tuesday’s solid gain of 74.62 points that pushed the index to 9,609.53, as investors bet on measures to support growth and revive confidence in UK markets.
Wall Street provided a powerful tailwind overnight. After a shaky start, US markets gathered pace, with the Dow Jones surging 664 points (1.4%) to 47,112, while the S&P 500 gained 0.9% to 6,766 and the Nasdaq climbed 0.7% to 23,026. All three indices have now returned to their all-time highs from earlier this month.
The positive tone has carried into Asia, where markets opened broadly higher. India’s Sensex leads the charge, up 1%, while Hong Kong’s Hang Seng rose 0.4% and Japan’s Nikkei hovered just above flat, reflecting steady but cautious optimism.
With global equities back in rally mode, all eyes now turn to Westminster, where today’s Budget could set the tone for UK markets for the rest of the year.
