London stocks look set for a modest lift as trading resumes with a calmer tone following Wednesday’s Budget and the Thanksgiving break in the US.
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The FTSE 100 ended yesterday almost flat, up just 2.35 points (0.02%) at 9,693, but futures now indicate a slightly stronger start, with the index expected to open around 19 points higher. UK assets have so far proved resilient in the wake of the Budget, supported by solid performances from heavyweight banks and a 3% jump in Persimmon shares, which helped underpin the market.
Across Asia, trading has been mixed. Japan’s Nikkei rose 0.2%, while Hong Kong’s Hang Seng slipped 0.2%. On the mainland, the Shanghai Composite gained 0.3%, India’s Sensex edged 0.1% higher, and Australia’s ASX 200 was broadly flat.
In the US, futures suggest a cautiously positive return to trading after the Thanksgiving holiday, with Wall Street poised for gains of around 0.1%–0.2% when markets reopen for the shortened session later today.
Overall, sentiment remains steady rather than exuberant, as investors continue to digest the Budget’s implications while keeping a close eye on the direction of US markets as they rejoin the global trading picture.
