, London’s FTSE 100 is on course to make progress in opening trade, after the rebound on global stock markets kept Asian markets positive. Futures trade expects London’s main index to rise by around 30 points at the start of full business at 8.00 am.
It would leave the index heading away from the turmoil earlier in the month, sparked by fears of a recession in the US which now look overstated. The improving mood faces a test this week from a run of inflation data due around the world, including in Europe and the US itself. The UK’s consumer price index is due on Wednesday and is expected to come in at 2.
3%, slightly higher than the 2% last time around, which was bang on the Bank of England’s 2% target. Investors will scrutinise the data for insight into the outlook for interest rate cuts from the Bank of England. Policymakers took the base cost of borrowing down by a quarter-point to 5.
25% at their last meeting in August. It ended a 16-year high for interest rates and was the first cut since the pandemic. There are hopes in the City that more action could take rates to 4.
75% by the end of the year, which could boost spending power and stoke economic growth. , Good morning from the Standard City desk. Here’s a summary of our top headlines from Friday: from consortium led by private equity firms CVC Group, and Nordic Capital and Abu Dhabi’s sovereign wealth fund Belway is latest major housebuilder to see improvement in housing market amid luxury slowdown but unveils.