1st May 2025 08:59
(Alliance News) - Stock prices in London were in the green early on Thursday, after the UK government welcomed the US and Ukraine's minerals deal.
Meanwhile in Asia, Chinese media has reported that Washington is approaching Beijing regarding tariff negotiations.
Yuyuan Tantian, a Chinese outlet linked to state broadcaster CCTV, said citing sources that Washington was "proactively" reaching out to China via "multiple channels" for talks on the tariffs.
"From a negotiation standpoint the US is currently the more anxious party," the outlet, which blends analysis with news reporting, said on the X-like platform Weibo. AFP said it has reached out to China's foreign ministry for comment.
The FTSE 100 index was up 4.04 points at 8,498.89. The FTSE 250 however was up 48.49 points, 0.2%, at 19,933.08, and the AIM All-Share was up 0.12 points at 690.84.
The Cboe UK 100 was up 0.2% at 844.76, the Cboe UK 250 was up 0.2% at 17,423.69, and the Cboe Small Companies was up 0.2% at 15,307.91.
Whitbread led the FTSE 100, rising 4.0%.
The Dunstable, England-based hotel and restaurant owner reported decreased for financial 2025 that revenue and pretax profit both fell to GBP2.92 billion and GBP367.8 million respectively.
However, it also said it was "positive" about its medium-term outlook, expecting to make around GBP300 million in incremental pretax profit by financial 2030, and announced the start of a share buyback worth up to GBP250 million.
Behind BP which lost 2.3%, Lloyds Banking was the second-worst performer, down 2.1%.
The lender's first-quarter results included pretax profit decreasing 7% to GBP1.52 billion, but net income rose 4% to GBP4.39 billion and underlying net interest income rose 3% to GBP3.29 billion.
Lloyds reaffirmed its full-year guidance, which includes an approximate underlying net interest income of GBP13.5 billion and return on tangible equity of 13.5%.
Clarkson was the second-worst FTSE 250 performer, dropping 9.8%.
The London-based shipping services provider said it expects between GBP85 million and GBP95 million in pretax profit for 2025, and said it is "very well placed" to navigate the current macroeconomic uncertainty.
However, this profit forecast would mark a decrease from the GBP112.1 million Clarkson generated in 2024.
Meanwhile, following the US and Ukraine's signing of a minerals deal, including a commitment to establishing a "reconstruction investment fund", UK Foreign Secretary David Lammy said: "The UK welcomes steps taken by the US and Ukraine to sign an economic partnership. The UK's support for Ukraine remains steadfast...we are deepening economic and security ties for the future generations of both of our countries."
On AIM, Eleco gained 11%.
The London-based software provider declared an increased final dividend of 0.70 pence, with pretax profit for 2024 rising to GBP4.3 million and revenue rising to GBP32.4 million. It also said it is "well positioned" for strong results and growth going forward.
Ethernity lost 25%.
The data processing semiconductor technology supplier announced a placing and subscription to raise GBP800,000 at 0.022p per share, to enable the settlement of its creditor repayment plan.
The CAC 40 in Paris and the DAX 40 in Frankfurt were closed for Labour Day.
The pound was quoted lower at USD1.3305 early on Thursday in London, compared to USD1.3357 at the equities close on Wednesday. The euro stood lower at USD1.1305, against USD1.1365. Against the yen, the dollar was trading higher at JPY144.42 compared to JPY142.66.
In Asia on Thursday, the Nikkei 225 index in Tokyo was up 1.1%. The S&P/ASX 200 in Sydney closed up 0.2%.
In the US on Wednesday, Wall Street ended mixed, with the Dow Jones Industrial Average up 0.4%, the S&P 500 up 0.2% and the Nasdaq Composite down 0.1%.
Brent oil was quoted lower at USD60.46 a barrel early in London on Thursday from USD62.60 late Wednesday.
Gold was quoted lower at USD3,231.75 an ounce against USD3,308.91.
Still to come on Thursday's economic calendar are the manufacturing purchasing mangers' index reads from the US and UK.
By Emma Curzon, Alliance News reporter
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