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(Sharecast News) - London stocks looked set for a steady start on Wednesday following a positive close on Wall Street, amid expectations of a rate cut from the Federal Reserve this month.
The FTSE 100 was called to open flat at 9,702.
Ipek Ozkardeskaya, senior analyst at Swissquote, said: "The Fed is widely expected to announce a 25 basis points cut when it meets next week.
"The ADP report due today is expected to print 5,000 new private-sector job additions in the US during last month - a number small enough to back a December Fed cut. But Friday's PCE data will hint at what will happen next.
"And given that it's still well above the Fed's inflation target, we could hear a hawkish cut from the Fed next week that could reshuffle expectations for next year - toward a more cautious path of easing. Right now, the expectation is 2-4 rate cuts next year. The risks are skewed toward fewer, not more."
In UK corporate news, HSBC Holdings said it has named former KPMG partner Brendan Nelson chair.
Nelson, 76, has served as interim chair since 1 October. HSBC said the accountant had been appointed following a "robust" process, with both internal and external candidates considered.
However, some City watchers had expected a more-high profile figure to fill the role.
Private hospital operator Spire Healthcare pointed to a slowdown in NHS commissioning as it warned full-year earnings would come in at the bottom end of guidance.
Spire said revenues grew 3.6% year-on-year in the four months ended 31 October, as self-pay demand continued to improve.
However, Spire cautioned that reduced NHS activity, linked to Integrated Care Board budget restrictions, would weigh on performance.
As a result, the FTSE 250-listed firm expects full-year adjusted group underlying earnings to land at the lower end of its 270m to 285m guidance range.
Engineer Senior said it had won a multi-year contract by Airbus to design and make parts to transport fluids on dual and single aisle commercial aircraft.
The company added that the deal provided significant further potential in the spares and repairs markets. Delivery will start in the first quarter of 2026.