(Alliance News) - Stocks in London are set to open higher on Friday, with all eyes on the US jobs report.

IG says futures indicate the FTSE 100 to open 17.7 points higher, 0.2%, at 8,189.85 on Friday. The index of London large-caps closed up 50.91 points, 0.6%, at 8,172.15 on Thursday.

The pound was quoted at USD1.2553 each early Friday, up from USD1.2487 late Thursday. The euro stood at USD1.0737, rising from USD1.0690. Against the yen, the dollar was trading at JPY152.92, down sharply from JPY154.05.

Friday's US jobs report is expected to show nonfarm payrolls rose 243,000 last month, according to FXStreet cited consensus, easing from 303,000 in March.

The reading is released at 1330 BST. Elsewhere, the economic calendar has a UK services purchasing managers' index at 0930 BST and eurozone jobless data at 1000 BST.

In Hong Kong on Friday, the Hang Seng was up 1.5% in afternoon trade. The S&P/ASX 200 was 0.6% higher.

In New York, the Dow Jones Industrial Average closed up 0.9% on Thursday. The S&P 500 rose 0.9% also, while the Nasdaq Composite shot up 1.5%.

"Heading into the key US payrolls report, stock market losses were trimmed, thanks to a dovish tint to Chair Powell's pressers and the Federal Reserve's announcement of QT tapering in June. These factors, taken together, signalled a modicum of downside protection for the market and provided some ballast. And despite investors navigating in stormy seas this week, Apple's better-than-expected earnings performance provided a further boost to US stock futures, which bounced significantly after the bell," SPI Asset Management Stephen Innes analyst commented.

Apple shares rose 6.0% in after hours trade on Thursday, after the tech firm announced a new USD110 billion share buyback programme.

The Cupertino, California-based firm reported its second quarter results, ended March 30.

Net sales fell to USD90.75 billion from USD94.84 billion a year earlier. Net income fell to USD23.64 billion from USD24.16 billion.

Over the first six months of its financial year, net sales fell to USD210.33 billion from USD211.99 billion a year earlier. Net income rose to USD57.55 billion from USD54.16 billion.

On the back of the results, Apple declared a cash dividend of USD0.25 per share, up 4% annually. The company has also authorised a USD110 billion buyback programme.

Brent oil was quoted at USD83.94 a barrel early Friday, up from USD83.40 at the time of the London equities close on Thursday. Gold was quoted at USD2,307.93 an ounce, up from USD2,303.10.

In Friday's UK corporate calendar, there are full year results from rail ticketing platform Trainline. There are trading statements from InterContinental Hotels and packaging firm Mondi.

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.