London open: Stocks hold higher, US data in focus
By Alexander Bueso
Date: Wednesday 30 Apr 2025
(Sharecast News) - Stocks were moving slightly higher at the end of the month, ahead of a big day for economic data and company results on both sides of the Atlantic.
All ahead of Friday's non-farm payrolls release for the month of April in the States.
"Markets are riding a razor's edge this week, with tariff distortion bleeding into macro prints and the dollar losing altitude fast. The greenback's early-week wobble wasn't just noise-it's the market sniffing out that the next real catalyst could be a full-blown data-driven unwind," said Stephen Innes, managing partner at SPI Asset Management.
"The Bank of Japan may be grabbing headlines into Thursday, but let's not kid ourselves-Friday's U.S. jobs report is the real macro landmine this week."
Against that backdrop, as of 0924 GMT, the FTSE 100 was edging up by 0.06% to 8,468.74, alongside a 0.43% gain for the second-tier index to 19,897.79.
In parallel, S&P 500 mini futures were little changed, slipping by 6.75 points to 5,577.0.
On home shores, Nationwide reported a 0.6% month-on-month drop in UK house prices during the month of March (consensus: 0.1%).
That was their largest decline in nearly two years, although in annual terms they were 3.4% higher.
Overnight, China's National Bureau of Statistics reported a decline in its manufacturing sector Purchasing Manager's Index from 50.8 during the month of March to 50.4 in April (consensus: 50.7).
Private sector survey compiler Caixin also said that its factory PMI declined, from 51.2 to 50.4.
But economists had been anticipating an even lower print of 49.9 for the Caixin gauge.
In the market spotlight for Wednesday, at 1230 GMT the US Department of Commerce was set to release a preliminary reading on first quarter GDP growth.
It would come alongside reading for the US first quarter Employment Cost Index and the latest reading on the Fed's preferred inflation gauge, the monthly core PCE price deflator.
Meta Platforms and Microsoft were scheduled to publish their latest quarterly results after the close of markets in New York.
Acquisitions continue apace at Bunzl
Bunzl has agreed to acquire Hospitalia, a major healthcare distributor in Chile, marking its entry into the Chilean healthcare sector, it announced on Wednesday, with the deal pending competition authority approval. The FTSE 100 company said Hospitalia generated approximately £21m in revenue in 2024. Separately, Bunzl said it has completed the acquisition of Inpakomed in the Netherlands.
Barclays Bank lifted bad loan provisions in response to macroeconomic uncertainty in the US as it also reported a better-than-expected 19% rise in pre-tax profit to £2.7bn. Credit impairment charges increased to £643m from £513m a year ago, primarily driven by a £74m adjustment for "elevated US macroeconomic uncertainty" and the impact of the Tesco Bank acquisition.
Luxury carmaker Aston Martin is limiting exports to the US in response to President Donald Trump's tariffs and also managed to post narrower-than-expected first-quarter losses.
Glencore reported a sharp decline in copper production during the first quarter on Wednesday, while output of cobalt and steelmaking coal rose strongly, supported by higher grades and recent acquisitions.
Consumer healthcare giant Haleon reiterated its full-year guidance on Wednesday, despite an increasingly "challenging and uncertain" macroeconomic backdrop. The owner of Sensodyne toothpaste, Centrum vitamins and Panadol, among others brands, said revenues in the three months to March grew 3.5% on an organic constant currency basis, to £2.85bn, boosted by increases in both prices and volumes. On a reported basis, revenues fell 2.3%.
Market Movers
FTSE 100 (UKX) 8,469.92 0.08%
FTSE 250 (MCX) 19,897.98 0.45%
techMARK (TASX) 4,601.38 1.89%
FTSE 100 - Risers
Smith & Nephew (SN.) 1,062.50p 6.68%
GSK (GSK) 1,496.50p 4.50%
Associated British Foods (ABF) 2,084.00p 2.46%
SSE (SSE) 1,681.50p 2.28%
British American Tobacco (BATS) 3,223.00p 2.12%
Pearson (PSON) 1,179.50p 2.12%
AstraZeneca (AZN) 10,836.00p 2.05%
Hikma Pharmaceuticals (HIK) 2,000.00p 1.99%
Coca-Cola HBC AG (CDI) (CCH) 3,826.00p 1.92%
Convatec Group (CTEC) 263.00p 1.86%
FTSE 100 - Fallers
Glencore (GLEN) 250.65p -5.02%
Anglo American (AAL) 2,047.50p -3.76%
Antofagasta (ANTO) 1,633.00p -3.60%
Lloyds Banking Group (LLOY) 70.68p -3.42%
HSBC Holdings (HSBA) 830.10p -2.98%
NATWEST GROUP (NWG) 471.70p -2.68%
Prudential (PRU) 785.00p -2.36%
Taylor Wimpey (TW.) 115.70p -2.32%
Rio Tinto (RIO) 4,441.50p -2.31%
SEGRO (SGRO) 678.00p -1.80%
FTSE 250 - Risers
Genus (GNS) 2,000.00p 26.10%
W.A.G Payment Solutions (WPS) 62.00p 3.68%
Indivior (INDV) 879.00p 2.39%
Safestore Holdings (SAFE) 626.50p 2.37%
Inchcape (INCH) 677.50p 2.26%
Spire Healthcare Group (SPI) 194.80p 2.20%
Clarkson (CKN) 3,295.00p 2.17%
SSP Group (SSPG) 146.40p 2.16%
Barr (A.G.) (BAG) 701.00p 2.04%
AO World (AO.) 99.70p 1.94%
FTSE 250 - Fallers
PPHE Hotel Group Ltd (PPH) 1,284.00p -3.46%
Ferrexpo (FXPO) 56.60p -1.91%
IP Group (IPO) 43.10p -1.60%
BlackRock World Mining Trust (BRWM) 463.00p -1.59%
Endeavour Mining (EDV) 1,992.00p -1.48%
Mobico Group (MCG) 31.50p -1.44%
Close Brothers Group (CBG) 322.60p -1.41%
BH Macro Ltd. GBP Shares (BHMG) 396.00p -1.25%
Howden Joinery Group (HWDN) 765.50p -0.97%
Playtech (PTEC) 754.00p -0.92%
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