7.00am: FTSE set for a bright start
FTSE 100 is set to open higher on Thursday despite another hit resulting from the chancellor’s mini budget.
Spread betting companies are calling the lead index up by around 50 points.
Sterling was higher in Asian trading at $1.1363 despite a downgraded outlook for the credit rating of UK government debt as Fitch lowered the outlook for the debt to negative from stable while leaving the rating itself unchanged at "AA-".
In the US markets ended down, but off earlier lows, consolidating some of the strong gains of the past two days.
By the close The Dow Jones Industrial Average was down 42 points to 30,275, the S&P 500 lost 7 points to 3,784 and the Nasdaq Composite slipped 28 points to 11,149.
“It’s a moment of pause for the market to reflect on how durable the rally the past two days actually could turn out to be,” said Yung-Yu Ma, chief investment strategist for BMO Wealth Management.
In the UK, results from mining firm Ferrexpo and a trading statement from tobacco firm Imperial Brands (LON:IMB) are due.
In the economic calendar, there is the UK construction PMI reading while US jobless claims are due this afternoon.