(Alliance News) - Stocks in London are set to open on the front foot on Monday, as investors look ahead to a key US inflation print on Friday.

IG says futures indicate the FTSE 100 to open up 56.2 points, 0.7%, at 7,952.05 on Monday. The index of London large-caps closed up 18.80 points, or 0.2%, at 7,895.85 on Friday.

In China, the Shanghai Composite was down 0.5%, while the Hang Seng index in Hong Kong was up 2.0%.

The People's Bank of China left the one-year loan prime rate - which serves as the benchmark for corporate loans - unchanged at 3.45%. The five-year LPR - which is used to price mortgages - was left at 3.95%. It had been cut from 4.20% in February, in an effort to stimulate the country's flagging housing market.

The loan prime rate is a lending reference rate set monthly by 18 banks. Back in August 2019, the PBoC revamped the mechanism to price loan prime rate, loosely pegging it to the medium-term lending facility.

Market consensus had been expecting no change in April, given that the PBoC had left one-year medium-term lending facility rate unchanged at 2.50% last week.

In Asia on Monday, the Nikkei 225 index in Tokyo was up 0.4%. The S&P/ASX 200 in Sydney closed up 0.9%.

Sterling was quoted at USD1.2381 early Monday, lower than USD1.2410 at the London equities close on Friday. The euro traded at USD1.0662 early Monday, lower than USD1.0664 late Friday. Against the yen, the dollar was quoted at JPY154.73, up versus JPY154.52.

In the US on Friday, Wall Street ended mixed. The Dow Jones Industrial Average closed up 0.6%, whilst the S&P 500 fell 0.9% and the Nasdaq Composite lost 2.1%.

Gold was quoted at USD2,363.70 an ounce early Monday, lower than USD2,391.85 on Friday.

Brent oil was trading at USD86.42 a barrel early Monday, lower than USD87.01 late Friday.

In Monday's UK corporate calendar, Mobico posts its full-year results.

In the economic calendar on Monday, there is a consumer confidence reading fro the eurozone.

By Sophie Rose, Alliance News senior reporter

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