Unilever flags modest margin improvement, Weir Group reports solid Q1 demand
By Josh White
Date: Thursday 24 Apr 2025
(Sharecast News) - London open
The FTSE 100 is expected to open just two points higher on Thursday, having closed up 0.9% on Wednesday at 8,403.18.
Stocks to watch
Consumer goods conglomerate Unilever said it expected a "modest" improvement in underlying operating margin for the full year, versus 18.4% in 2024, adding that the impact of US tariffs would be "limited and manageable". The company on Thursday reaffirmed annual guidance after reporting underlying sales growth of 3% for the first quarter.
Weir Group reported continued strong demand in the first quarter on Thursday, driven by high mining activity, with original equipment and aftermarket orders each rising 5% year-on-year. The FTSE 100 engineering services company highlighted positive momentum in orders for brownfield and sustainability projects, and noted improving aftermarket demand, particularly in minerals and ESCO products. It reiterated its full-year guidance, citing a robust order book, expected revenue and profit growth in constant currency, and free cash conversion of 90% to 100%.
Newspaper round-up
British brands have warned they are being "doubly penalised" after DHL suspended deliveries to the US because of President Trump's tariff war, which is loading extra costs and paperwork on to exporters. The logistics group temporarily halted shipments worth more than $800 to the United States for business-to-consumer deliveries on Monday as it scrambles to deal with added shipping complexities caused by White House policy changes on imports. - The Times
Rachel Reeves has ruled out any trade deal with the US that would put chlorinated chicken or hormone beef on British supermarket shelves. The Chancellor said food standards had "never been on the table" as Britain pursues an agreement with the Trump administration. Ms Reeves also insisted Britain was in no rush to sign an agreement as she ruled out imports of larger US trucks that failed to meet British safety standards, as well as amending online safety protections for children. - Telegraph
Britain's most senior government ministers could soon be drawn into a deepening row over plans to charge some households higher electricity bills than others, as Ed Miliband prepares to decide on sweeping energy reforms. The energy secretary is understood to be close to making a decision on whether to move ahead with proposals to replace the country's single electricity market with several market zones. - Guardian
The head of Britain's largest drug company has demanded Europe ramp up spending on medicines amid fears over Donald Trump's tariffs. Pascal Soriot, the chief executive of FTSE 100 giant AstraZeneca, said Europe was "falling behind" the US on drug spending and needed to boost investment to help protect its people from illness. - Telegraph
Keir Starmer is under pressure from more than 60 Labour MPs to allow thousands of young Europeans to live and work in the UK, a move seen as key to unlocking a more ambitious trade reset with Brussels. The chancellor, Rachel Reeves, said discussions on a potential scheme were ongoing, in the clearest hint yet that the government is preparing to do a deal. - Guardian
US close
Major indices closed higher on Wednesday after Donald Trump revealed he did not intend to try to oust "major loser" Jerome Powell from his role as Federal Reserve chairman and that he would play "very nice" with China.
At the close, the Dow Jones Industrial Average was up 1.07% at 39,606.57, while the S&P 500 advanced 1.67% to 5,375.86 and the Nasdaq Composite saw out the session 2.50% firmer at 16,708.05.
The Dow closed 419.59 points higher on Wednesday, extending gains recorded in the previous session as news broke that Treasury Secretary Scott Bessent had said there "will be a de-escalation" in the White House's trade war with China.
Trump also softened his stance on Beijing, admitting that the current 145% tariff on Chinese imports was "very high" and that while it "won't be that high" and that "it'll come down substantially", he also said "it won't be zero". He also indicated that he did not see a need to "play hardball".
The Wall Street Journal also reported that the White House was mulling over lowering Chinese tariffs to somewhere between 50% and 65%.
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