London pre-open: Stocks seen lower as earnings roll in
By Michele Maatouk
Date: Tuesday 25 Mar 2025
(Sharecast News) - London stocks were set to fall at the open on Tuesday despite a positive session on Wall Street, as investors braced for a deluge of corporate news.
The FTSE 100 was called to open down around 35 points.
Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said: "The week started on quite a positive note on hope that the next wave of US tariffs - expected to hit the ground on April 2nd - would be more targeted and more measured than previously thought. But Trump still threatened to impose 25% levies on countries that buy oil from Venezuela.
"Chinese equities are under pressure this morning as the country buys oil from Venezuela and is concerned by the new tariff threats from the White House. And the barrel of US crude gained around 1.30%, though offers weighed heavier into the $69.5pb mark.
"Trend and momentum indicators are growing stronger, hinting that a rise above the $70pb is increasingly possible in the short run. But the long-term demand and supply dynamics remain in favour of cheaper oil - an expectation that's already priced in, but could still prevent oil bulls from gaining too much traction after a potential break of the $70pb resistance."
In UK corporate news, B&Q owner Kingfisher said it expected adjusted earnings of £480m to £540m this year and warned of the impact of budgetary measures in the UK and France on consumer sentiment and costs in the short term.
The company, which also owns Brico Depot and Castorama in France, posted a 7% fall in adjusted pre-tax profit to £528m and announced a £300m share buyback.
Smiths Group reported a strong set of half-year results, with 9.1% organic revenue growth, a 50 basis point margin expansion to 16.7%, and a 14% increase in headline earnings per share, while reaffirming full-year guidance.
The FTSE 100 company said it was progressing with its strategy to unlock value, including the separation of Smiths Interconnect and Smiths Detection, as it focussed on high-performance industrial technology businesses.
As part of the strategy, Smiths Group also announced the acquisition of Duc-Pac for $40.5m to strengthen its Flex-Tek division's HVAC offering and expand its presence in the north-east US construction market.
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