London pre-open: Stocks to gain as investors eye Nvidia results
By Michele Maatouk
Date: Wednesday 26 Feb 2025
(Sharecast News) - London stocks looked set to gain at the open on Wednesday following a subdued session the day earlier, as investors eyed results from US chip firm Nvidia.
The FTSE 100 was called to open around 75 points higher.
Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said: "Nvidia will reveal its Q4 earnings today, after the bell, and expectations are strong. The company is expected to have increased its quarterly sales to $38bn last quarter on the back of the launch of Blackwell chips and sustained spending from Big Tech companies. Note that TSM results were strong during the same quarter, as well.
"Moreover, the company's forecast should be strong, as well, on the back of Stargate project and further spending pledges from the Big Tech companies."
Investors will also be mulling reports that Ukraine and the US have struck a minerals deal to enable Kyiv to pay back billions in military aid supplied by Washington to fight the Russian invasion.
President Volodymyr Zelenskyy was planning to travel to Washington on Friday to see his US counterpart Donald Trump to sign the agreement.
The Financial Times reported that Kyiv was ready to sign the agreement on jointly developing its mineral resources, including oil and gas, after the US dropped demands for a right to $500bn in potential revenue from the deal.
In UK corporate news, Metro Bank said it had struck a deal to sell a portfolio of around £584m performing unsecured personal loans to an unnamed buyer.
The transaction is expected to result in a pro-forma improvement in Metro Bank's common equity tier 1 ratio by around 81 basis points and total capital plus minimum requirement for own funds and eligible liabilities ratio of around 129bps to 23.5% from 22.2%
Market participants will also be digesting results from the likes of Aston Martin, Hammerson, Hikma and Morgan Sindall.
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