London pre-open: Stocks set for flat start
By Alexander Bueso
Date: Thursday 24 Apr 2025
(Sharecast News) - Stocks are set for a flattish start as investors monitor their screens for any sign of a thawing in trade relations between China and the US.
For its part, Washington has already dropped hints that it could move to reduce its levies as part of talks - but not unilaterally.
Also of potentially key importance for the session are the weekly jobless claims data due out later in the States.
Investors are keen to assess whether - and to what extent - recent financial market turbulence is weighing on hiring and firing decisions.
As of 0618 GMT, futures tracking the FTSE 100 are off by 5.50 points to 8.397,50.
In the geopolitical space, overnight the US President criticised his Ukrainian counterpart for saying that his country would refuse to ever recognise the Crimean peninsula as Russian territory, explaining that a deal would not require that of Kyiv and labelling the remarks "inflammatory" given the current phase of talks.
There were also differences of criteria between Washington on the one side, and Ukraine and some of its European allies on the other, regarding how to sequence the next steps in efforts to reach a ceasefire.
Those disagreements over sequencing were reminiscent of the ones that preceded the failure of the Minsk II agreements.
At 1230 GMT, the US Department of Labor will release weekly jobless claims figures.
In parallel, the Department of Commerce will publish durable goods orders data for March.
Due out earlier, at 0800 GMT, is the IFO Institute's business confidence index for April.
Weir Group, Unilever deliver positive updates
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%.
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.
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