12th May 2025 06:50
(Alliance News) - Stocks in London are set to open higher on Monday, as the US claims to have reached a trade deal with China and investors weigh potential signs of further talks for a ceasefire in Ukraine.
IG says futures indicate the FTSE 100 to open up 28.5 points, 0.3%, at 8,579.35 on Monday. The index of London large-caps closed up 19.24 points, 0.2%, at 8,550.85 on Friday.
In the US on Friday, Wall Street ended lower, with the Dow Jones Industrial Average down 0.3%, the S&P 500 0.1% lower, and the Nasdaq Composite marginally higher.
The US claims to have reached a deal in its tariff dispute talks with China. US Trade Representative Jamieson Greer said further details would be announced on Monday.
The Chinese side, led by Vice Premier He Lifeng, did not comment after concluding the talks in Geneva. President Trump hailed early Sunday a "total reset" in US-China trade relations following the first day of talks between top US and Chinese officials aimed at de-escalating tensions sparked by his aggressive tariff rollout.
In Asia on Monday, the Nikkei 225 index in Tokyo was up 0.3%. In China, the Shanghai Composite was 0.6% higher, while the Hang Seng index in Hong Kong was up 1.2%. The S&P/ASX 200 in Sydney closed up 0.2%.
Russian President Vladimir Putin proposed direct negotiations in the coming days to end the conflict in Ukraine but did not address a 30-day ceasefire proposal drawn up hours earlier by European allies of Kyiv, reportedly with US backing.
Speaking at the Kremlin in the early hours of Sunday, Putin proposed direct talks with Ukraine in Istanbul on May 15 – hours after Kyiv and the leaders of France, Germany, the UK and Poland had called for an unconditional 30-day ceasefire to start on Monday.
Sterling was quoted lower at USD1.3281 early Monday, compared to USD1.3299 at the London equities close on Friday.
The euro traded at USD1.1220 early Monday, higher than USD1.1263 late Friday. Against the yen, the dollar was quoted up at JPY146.05 versus JPY145.18.
Gold was quoted lower at USD3,274.35 an ounce early Monday, against USD3,342.57 on Friday.
Brent oil was trading at USD64.25 a barrel early Monday, higher than USD63.66 late Friday.
In Monday's corporate calendar, first-quarter results from Caledonia Mining and a trading statement from Diversified Energy.
In the economic calendar on Monday, comments from Bank of England representatives, including Deputy Governor Clare Lombardelli, current account data from Japan, and the US monthly budget statement.
By Emily Parsons, Alliance News reporter
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