LONDON MARKET EARLY CALL: FTSE 100 seen down as Brent rises

(Alliance News) - Stocks in London are set to open marginally lower on Friday as investors assess fresh US trade measures, firmer oil prices and will closely watch the US jobs report later in the day.

IG says futures indicate the FTSE 100 to open 12.0 points lower, 0.1%, at 10,855.89 on Friday. The index of London large-caps closed down 0.2% at 10,867.89 on Thursday.

Brent oil was trading at USD83.71 a barrel early Friday, higher than USD81.74 late Thursday.

US President Donald Trump signed an order imposing tariffs on imports of polysilicon, a key material used in the production of solar panels and semiconductors, a White House official said.

The move follows a year-long Commerce Department investigation into polysilicon imports. Commerce Secretary Howard Lutnick described the material as a "foundational product" for the semiconductor industry.

"We're making the products here, but we need the supply chain here. So this will bring the supply chain here," Lutnick told reporters at the White House.

Sterling was quoted at USD1.3452 early Friday, slightly lower than USD1.3454 at the London equities close on Thursday. Against the euro, sterling fell marginally to EUR1.1674 from EUR1.1675 a day prior.

The euro traded at USD1.1523 early Friday, marginally lower than USD1.1524 late Thursday. Against the yen, the dollar was quoted at JPY158.36 versus JPY158.41.

Back in the UK, the decline in retail footfall eased in July despite continued "extreme temperatures" keeping many shoppers indoors, according to the British Retail Consortium.

BRC-Sensormatic data, covering the period from July 5 to August 1, showed total UK footfall fell 2.1% on-year in July, improving from a 3.4% decline in June.

High Street footfall dropped 3.8%, compared with a 6.2% fall in June, while Retail Park footfall rose 1.2% after a 0.3% decline. Shopping Centre footfall fell 1.4%, easing from a 2.5% drop previously.

Footfall declined 3.0% in England, including a 5.3% fall in London, was unchanged in Wales, and increased 2.7% in Scotland and 2.6% in Northern Ireland.

In the US on Thursday, Wall Street ended lower, with the Dow Jones Industrial Average down 0.9%, the S&P 500 down 0.2% and the Nasdaq Composite down 0.1%.

In Asia on Friday, the Nikkei 225 index in Tokyo slipped 0.2%, after Japanese household spending fell for a second consecutive month.

The Statistics Bureau of Japan said average monthly consumption expenditures for two-or-more person households fell 3.3% in real terms year-on-year in June to JPY290,886, or around USD1,835, following a 0.4% decline in May. The reading was well below the FXStreet-cited consensus forecast for a 1.0% increase. Average monthly household income in real terms rose 3.9%, accelerating from 0.7% growth in May.

In China, the Shanghai Composite rose 0.8%, while the Hang Seng index in Hong Kong added 0.1%.

China's trade surplus narrowed in July, according to official data. Figures from the General Administration of Customs showed the surplus declined to USD112.50 billion from USD125.62 billion in June, although it remained above the FXStreet-cited consensus forecast of USD107.00 billion.

Exports increased 24% on-year in July, slowing from 27% in June, while imports rose 27.5%, easing from 36% growth previously. Exports to the US climbed 17% on-year to USD41.9 billion.

The S&P/ASX 200 in Sydney was down 0.1%.

Gold was quoted at USD4,275.37 an ounce early Friday, higher than USD4,250.01 on Thursday.

In Friday's corporate calendar, Renewables Infrastructure Group releases half-year results.

In the economic calendar on Friday, the UK publishes the Lloyds house price index, Germany releases trade balance and industrial production data, while the US reports nonfarm payrolls, the unemployment rate and consumer inflation expectations.

By Eva Castanedo, Alliance News senior economics reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2026 Alliance News Ltd. All Rights Reserved.