London pre-open: Stocks to fall as investors mull GDP
By Michele Maatouk
Date: Thursday 16 Oct 2025
(Sharecast News) - London stocks were set to fall at the open on Thursday as investors mulled the latest UK GDP figures.
The FTSE 100 was called to open around 35 points lower.
Figures released by the Office for National Statistics showed that economic growth ticked modestly upwards in August, supported by the UK's dominant services sector.
GDP grew by 0.3% in the three months to August, in line with expectations and a slight increase on the 0.2% uplift seen in July.
On a monthly basis, GDP rose 0.1%, following a 0.1% fall in July, and by 1.3% year-on-year.
ONS director of economic statistics Liz McKeown said: "Economic growth increased slightly in the latest three months. Services growth held steady, while there was a smaller drag from production than previously.
"Continued strength in business rental and leasing and healthcare were the main contributors to services growth, partially offset by weakness in some consumer facing services, while wholesalers also fared poorly."
Kathleen Brooks, research director at XTB, said: "GBP/USD has backed away from intraday highs over the course of this morning, but remains above $1.3400 for now. We expect this data to have little consequence on the pound since the GDP figures were mostly in line with expectations.
"Ahead today, the surge in the gold price to a fresh record high could boost the FTSE 100's gold miners. The yellow metal is now comfortably above $4,200 per ounce. The oil price is also rising after India said it would not accept oil from Russia, which could squeeze global supply. The oil price is higher by 0.8% on this news and Brent crude oil is back above $62 per barrel after falling below this level earlier in the session."
In corporate news, building materials group Travis Perkins reported a return to underlying sales growth in its third quarter, as actions taken to "sharpen the competitive proposition" in its merchanting operations paid off.
Like-for-like sales over the three months to 30 September were 1.8% higher than last year, following a 1.2% decline in the first half.
"In what remains a highly competitive market, we have invested in pricing and targeted promotions and will continue to do so in the near-term," said chair Geoff Drabble.
Flexible workspace operator Workspace Group reported a 2.3% decline in like-for-like occupancy, dropping to 80% in the second quarter, largely due to customer vacations at The Centro Buildings.
Like-for-like rent roll was down 3.2% in the quarter to £107.1m, while total first-half rent roll decreased by 3.9% to £134m.
Pan-European private equity investor Oakley Capital said it had sold its stake in Luxembourg-based property and auto market provider atHome to Apax Partners.
OCI's look-through share of proceeds is anticipated to be £16m, with the sale resulting in an uplift of 2p a share to the company's net asset value.
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