The FTSE 100 is expected to continue its climb toward the 10,000-point milestone on Thursday after weaker-than-expected UK economic growth figures pushed the pound lower, giving a lift to London-listed multinationals.
Fresh data from the Office for National Statistics showed that UK GDP rose just 0.1% in Q3, slowing from 0.3% in Q2 and falling short of the 0.2% forecast. The softer reading added to expectations of looser monetary conditions in the months ahead.
London’s blue-chip index has been called 15 points higher on the futures market, after rising 11.8 points yesterday to close at 9,911.42, having hit a fresh intraday high of 9,930.09.
Overnight, Wall Street delivered another mixed session. The Dow Jones climbed 0.7% to notch yet another record close, while the S&P 500 edged up by less than 0.1%. The Nasdaq Composite fell 0.3%, marking its second straight decline as big tech stocks wobbled.
Among the standout movers, Advanced Micro Devices (AMD) surged 9% after issuing upbeat growth projections, even as heavyweights Amazon, Apple, and Tesla slipped back.
Across Asia, markets opened mostly higher, led by gains in China’s mainland stocks. The Shanghai Composite rose 0.75%, helping to set a positive tone for global equity markets heading into the European session.
