FTSE Open: Stocks dip ahead of key US data

The FTSE 100 dipped 3.11 points to 7,691.62 on Friday as markets grew cautious before the release of a crucial US inflation report this afternoon. The FTSE 250 fell 0.2% as JD Sports Fashion plunged 4.9%, tracking a 12% after-hours drop in Nike shares.

Nike forecasted softer second-half revenue but said it would seek $2 billion in cost savings over three years. HSBC gained 0.6% after its planned $10 billion sale of Canadian operations received regulatory approval.

On AIM, ad tech firm Bidstack more than doubled after settling a dispute and forging a new partnership with digital media group Azerion, which will pay €3 million. The companies will collaborate on gaming advertising beginning in 2024.

The London Stock Exchange will close early Friday for the Christmas holiday and remain shut Monday and Tuesday.