(Alliance News) - Stocks in London are set to open higher on Monday, following a mixed performance over in Asia.

Meanwhile, US markets will be closed for Martin Luther King Jr Day. They will reopen on Tuesday.

IG says futures indicate the FTSE 100 to open up 10.6 points, 0.1%, at 7,635.53 on Monday. The index of London large-caps closed up 48.34 points, 0.6%, at 7,624.93 on Friday.

In the US on Friday, Wall Street ended mixed. The Dow Jones Industrial Average closed own 0.3%, the S&P 500 up 0.1% and the Nasdaq Composite slightly higher.

In Asia on Monday, the Nikkei 225 index in Tokyo was up 0.9%. In China, the Shanghai Composite was up 0.1%, while the Hang Seng index in Hong Kong was up 0.4%. The S&P/ASX 200 in Sydney closed down slightly.

Taiwan told China to "face reality" and respect its election result, after voters defied Beijing's warnings and chose pro-sovereignty candidate Lai Ching-te as president.

Voters spurned Beijing's repeated calls not to vote for Lai, delivering a comfortable victory for a man China's ruling Communist Party sees as a dangerous separatist.

Beijing, which claims Taiwan as its territory and has never renounced force to bring it under its control, responded to Lai's victory by saying it would not change the "inevitable trend of China's reunification".

Meanwhile, Taiwan's President Tsai Ing-wen met US delegates who arrived on the island on the heels of an election won by a pro-sovereignty candidate who Beijing said would bring war to the self-ruled island.

Sterling was quoted at USD1.2757 early Monday, down from USD1.2760 at the London equities close on Friday. The euro traded at USD1.0966 early Monday, lower than USD1.0971 late Friday. Against the yen, the dollar was quoted at JPY145.25, up versus JPY144.62.

Gold was quoted at USD2,056.42 an ounce early Monday, higher than USD2,053.68 on Friday. Brent oil was trading at USD78.31 a barrel early Monday, lower than USD78.65 late Friday.

In Monday's UK corporate calendar, there are trading statements from RS Group, Ashmore Group and PageGroup.

The economic calendar for Monday has eurozone industrial production and trade balance data at 1000 GMT.

By Sophie Rose, Alliance News reporter

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