(Alliance News) - Stocks in London are set to open higher on Friday, ahead of October retail sales figures for the UK, which are due shortly.
IG says futures indicate the FTSE 100 to open up 20.0 points, 0.3%, at 7,430.37 on Friday. The index of London large-caps slumped 75.94 points, 1.0%, at 7,410.97 on Thursday.
At 0700 GMT, the Office for National Statistics will release UK retail sales data for October, with FXStreet cited consensus expecting 0.3% growth on a monthly basis, compared to a 0.9% decline in September.
On an annual basis, a 1.5% decline is expected in October according to FXStreet cited consensus, compared to a 1.0% decline in September.
In New York on Thursday, the Dow Jones Industrial Average ended down 0.1%, the S&P 500 up 0.1% and the Nasdaq Composite up 0.1%.
The US Federal Reserve may be on track to bring down inflation while avoiding a damaging recession, a senior policymaker said.
Despite significant progress since last summer, inflation remains stuck above the Fed's long-run target of 2%, causing disagreement among policymakers over the best route forward.
"I believe that a soft landing is possible, with continued disinflation and a strong labour market, but it is not assured," Fed Governor Lisa Cook told a conference in California Thursday, according to prepared remarks.
In Asia on Friday, the Nikkei 225 in Tokyo closed up 0.5%. In China, the Shanghai Composite was down 0.1%, while the Hang Seng index in Hong Kong was down 2.2%. The S&P/ASX 200 in Sydney closed down 0.1%.
Japan's Prime Minister Fumio Kishida said that he expressed to President Xi Jinping his "serious concerns" about Chinese military activity in the region and its collaboration with Russia, in their first meeting in a year.
He also said that he "strongly demanded a calm response based on scientific evidence and the immediate removal of restrictions on imports of Japanese food products."
Meanwhile Chinese state media reported that Xi told Kishida that China and Japan must "properly manage" their differences, and "commit themselves to building a Sino-Japanese relationship that meets the requirements of the new era".
The pound traded at USD1.2414, down from USD1.2417 at the time of the London equities close on Thursday. The euro traded at USD1.0852, down from USD1.0855. Against the yen, the dollar bought JPY150.61, up against JPY150.54.
Friday's economic calendar also has a eurozone inflation reading at 1000 GMT.
A barrel of Brent oil was trading at USD77.44, down from USD77.95 late on Thursday. Gold fetched at USD1,982.99 an ounce, down from USD1,983.48.
In the local corporate calendar, currency and derivatives manager Record releases half-year results.
By Greg Rosenvinge, Alliance News senior reporter
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