London pre-open: Stocks set for more gains
By Michele Maatouk
Date: Monday 28 Apr 2025
(Sharecast News) - London stocks were set for more gains on Monday, following their tenth consecutive close in the black at the end of last week.
The FTSE 100 was called to open around 15 points higher.
Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said: "The week starts with mixed feelings. Market mood improved last week as US President Donald Trump eased pressure on Federal Reserve (Fed) Chair Jerome Powell, announced some progress with trading partners including Japan and India, and said that the triple-digit import taxes on Chinese products will probably be 'substantially' revised lower.
"And happily, we heard no major bombs from Trump or his administration over the weekend. It could hardly get better than this given the situation. So, the week starts with some optimism."
Investors will be eyeing bank results in the UK this week, while in the US, tech earnings will be in focus.
Kathleen Brooks, research director at XTB, said: "Meta, Microsoft, Apple, and Amazon all report results this week. Since tech stocks have been a drag on the overall US index so far this year, their earnings will be scrutinised closely.
"Apple and Amazon could face even greater scrutiny as some of their business lines are heavily linked to China and are impacted by the US tariffs. Amazon is an obvious example. It has already paused shipments from some Chinese suppliers in recent weeks. The question is, does this have an impact on the company's bottom line and will it weigh non forward guidance, if Amazon provides it?"
In corporate news, Great Portland Estates said it retained 91% of its fully managed customers at break or expiry for the year to March, driven by strong demand for office space.
The transactions secured an average rental uplift of more than 6% per annum and in total will deliver around £6.5 million of annual rent , 10% ahead of estimated rental value, the company said.
Fintech group Plus500 said it expects 2025 results to be ahead of current market forecasts after an "excellent" start to the year, driven by recent macroeconomic and financial market conditions.
The company, which operates proprietary tech-based trading platforms, reported revenues of $205.8m over the first three months of the year, up 13% on the fourth quarter but 5% behind last year.
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