Test- FTSE 100 Kicks Off August on a High as BP and Senior Lead Market Momentum
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10 Oct 2025, 13:13
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As traders awaited further indications on U.S. policy, Asian equities took a break on Thursday, remaining close to their peak of the past two years. Meanwhile, sterling remained stable ahead of a Bank of England meeting where rates are anticipated to stay unchanged.
In addition to the BoE, investors will be observing Switzerland's and Norway's central banks' Thursday announcements to see how the world's interest rates are expected to go.
In anticipation of the plethora of central bank announcements, European stock markets were expected to open higher, with Eurostoxx 50 futures and FTSE futures both 0.2% higher.
British inflation reached its 2% goal in May for the first time in over three years, according to data released on Wednesday. However, significant underlying price pressures almost guarantee that interest rates won't be lowered before next month's election.
In a Reuters survey conducted last week, the majority of analysts predicted that the central bank will begin lowering interest rates in August. However, markets believe that a first move is more probable in September or November and give an August rate drop just a 30% likelihood.
For a second consecutive meeting, the Swiss National Bank is anticipated to lower its main policy rate by 25 basis points. It's expected that Norway's central bank will not alter its main policy interest rate.
Tech shares surged globally on Tuesday, pushing AI chipmaker Nvidia over Microsoft as the most valuable firm in the world.
The enthusiasm surrounding artificial intelligence has caused technology stocks to soar throughout the year, with Nvidia and a few other titans leading the charge as American equities hit all-time highs and outpace their Asian counterparts.
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(Sources: investing.com, reuters.com)
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