Prem28 Oct 2022 10:22
Hammered11--info;
(Alliance News) - Stocks in London look set to end the week on the back foot on Friday, following an as-expected rate hike from the European Central Bank but better-than-expected economic growth in the US.
IG says futures indicate the FTSE 100 index of large-caps to open down 56.49 points, or 0.8%, at 7,017.20 on Friday. The index closed up 17.62 points, or 0.3% at 7,073.69 on Thursday.
Sterling was quoted at USD1.1560 early Friday, down from USD1.1573 at the London equities close on Thursday.
European Central Bank President Christine Lagarde sounded tough on inflation on Thursday, but a slight 'dovish tweak' to the central bank's monetary policy statement has sent the euro below dollar parity.
The ECB said interest rates would need to be raised "further" - a slight change in language after it previously said rates would need to be hiked over the "next several meetings".
Hope this helps
Acker