(Alliance News) - Stocks in London are set to open higher on Wednesday, in anticipation of a slew of PMI readings from major global economies.

IG says futures indicate the FTSE 100 to open up 0.6% on Wednesday. The index of London large-caps closed down 0.4% on Tuesday.

Sterling was quoted at USD1.2768 early on Wednesday, lower than USD1.2786 at the London equities close on Tuesday.

The euro traded at USD1.0876 early on Wednesday, lower than USD1.0881 late Tuesday. Against the yen, the dollar was quoted at JPY155.64 versus JPY154.89.

In the US on Tuesday, Wall Street ended higher, with the Dow Jones Industrial Average up 0.4%, and the S&P 500 and the Nasdaq Composite both up 0.2%.

In Asia on Wednesday, the Nikkei 225 index in Tokyo was down 1.2%. In China, the Shanghai Composite was down 0.6%, while the Hang Seng index in Hong Kong was up 0.3%. The S&P/ASX 200 in Sydney closed up 0.3%.

Gold was quoted at USD2,338.70 an ounce early on Wednesday, higher than USD2,322.80 on Tuesday.

Brent oil was trading at USD77.42 a barrel early on Wednesday, higher than USD77.01 late Tuesday.

In Wednesday's corporate calendar, there are full-year results from B&M European Value Retail, discoverIE Group, vP, Workspace Group, and Ninety One, as well as half-year results from Ramsdens and WH Smith.

In the economic calendar, there are composite PMI readings from the UK, Germany, the US, and the eurozone.

By Holly Beveridge, Alliance News reporter

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