29th Apr 2025 06:53
(Alliance News) - Stocks in London are set to open higher on Tuesday, ahead of the pending US trade and consumer confidence data.
Meanwhile, UK shop price deflation decelerated to 0.1% on-year in April, from 0.4% in March. Non-food deflation slowed to 1.4% in April from 1.9% in March, while food price inflation accelerated to 2.6% from 2.4%. Fresh food price inflation picked up to 1.8% in April from 1.4%.
IG says futures indicate the FTSE 100 to open up 16.4 points, 0.2%, on Tuesday. The index of London large-caps closed 2.09 points higher at 8,417.34 on Monday.
Sterling was quoted at USD1.3408 early Tuesday, higher than USD1.3389 at the London equities close on Monday.
The euro traded at USD1.1387 early Tuesday, higher than USD1.1384 late Monday. Against the yen, the dollar was quoted lower at JPY142.43 versus JPY142.73.
In the US on Monday, Wall Street ended mixed, with the Dow Jones Industrial Average up 0.3%, the S&P 500 up 0.1% and the Nasdaq Composite down 0.1%.
In Asia on Tuesday, the Nikkei 225 index in Tokyo was up 0.4%. In China, the Shanghai Composite was down 0.2%, while the Hang Seng index in Hong Kong was marginally higher. The S&P/ASX 200 in Sydney closed up 0.9%.
Gold was quoted at USD3,315.11 an ounce early Tuesday, lower than USD3,326.61 on Monday.
Brent oil was trading at USD64.11 a barrel early Tuesday, lower than USD65.52 late Monday.
In Tuesday's corporate calendar, Associated British Foods releases half-year and AstraZeneca releases first-quarter results.
HSBC already reported a drop in profit for the first quarter and announced a new share buyback programme while slashing its dividend.
The London-based bank said pretax profit fell 25% to USD9.48 billion in the first quarter ended March 31 from USD12.65 billion a year earlier.
Diluted earnings per share fell 28% to USD0.39 from USD0.54.
Revenue declined 15% to USD17.65 billion from USD20.75 billion while net interest income was 4.0% lower at USD8.30 billion, down from USD8.65 billion.
The net interest margin decreased by 4 basis points to 1.59% from 1.63%.
HSBC cut its quarterly dividend by 68% to USD0.10 per share from USD0.31 but announced plans to launch a USD3.00 billion share buyback.
In the economic calendar on Tuesday, Spain and Ireland are releasing GDP data.
By Emma Curzon, Alliance News reporter
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