London pre-open: Stocks seen flat ahead of US inflation data
By Michele Maatouk
Date: Wednesday 12 Feb 2025
(Sharecast News) - London stocks were set for a steady open on Wednesday following a mixed session on Wall Street, as investors eyed the latest US inflation reading.
The FTSE 100 was called to open broadly flat 8,777.
Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said: "All eyes are on today's US inflation update. The US headline inflation is expected to steady near 2.9% year-on-year in January, core inflation may have eased from 3.2% to 3.1%.
"A set of softer-than-expected inflation numbers could help sooth inflation worries and encourage a deeper retreat in the US dollar and a further advance across the major peers. While a stronger-than-expected set of inflation figures could fuel worries, back a further rise in the US yields and the dollar, and weigh on risk appetite."
The US consumer price index for January is due out at 1330 GMT.
In UK corporate news, housebuilder Barratt Redrow said it expected full-year earnings to be at the upper end of expectations after a jump in interim profits.
The company posted pre-tax profit of £117.2m, up 23% and lifted its dividend by a quarter to 5.5p a share.
Consensus estimates for 2025 adjusted profit before tax is £542m with a range of £506m to £588m.
BHP's chair of eight years, Ken MacKenzie, is to retire from the board at the end of next month, the mining giant announced.
He will be replaced by banking veteran Ross McEwan, who has served as independent non-executive director since April of last year.
"Ross is an excellent choice as leader of the board, and I wish him every success in the role," MacKenzie said in a statement.
Indivior announced that the US Food and Drug Administration (FDA) has delayed its final review of proposed label changes for Sublocade, which include a rapid initiation protocol and alternative injection sites.
The company said the regulator had accepted the proposed label and identified no outstanding issues, but did not provide a new timeline for approval.
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