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After a banner day for Asian equities topped with a surprise diplomatic development in US-China relations, stocks in Europe are gearing up for gains as well.
Futures tip the FTSE 100 index to open 0.2 per cent higher in London, while France’s Cac 40 is expected to open up 1.3 per cent and Germany’s Dax index is set to begin the morning session with a rise of 0.9 per cent.
Those expectations follow on from major gains on Asia Pacific bourses after a solid Thursday performance from Wall Street, with Tokyo’s Topix index up 2.2 per cent, Hong Kong’s Hang Seng index up 0.6 per cent and Australia’s S&P/ASX 200 closing 1 per cent higher on Friday.
The big surprise of the day in Asia was the reveal of a surprise phone call between US President Donald Trump and China’s President Xi Jinping in which the former said he would respect the “One China” policy regarding the status of Taiwan, a move likely to ease tensions between the two global powers.
Corporate earnings reports out today include Renault, ArcelorMittal, Kering and Greene King.
The economic calendar for Friday is all about the UK, except the parts that aren’t (all times London):
- 07.00: Norway consumer, producer inflation
- 07.45: France industrial production
- 09.00: Italy industrial production
- 09.30: UK industrial production and trade balance
- 09.50: ECB executive board member Yves Mersch speaks in Brussels
- 15.00: UK NIESR GDP estimate