London open: FTSE 100 back above 8,500 as earnings impress
By Benjamin Chiou
Date: Thursday 01 May 2025
(Sharecast News) - UK stocks edged higher on Thursday, with strong gains from Whitbread and Rolls-Royce providing a lift, as market sentiment was bolstered by impressive Big Tech earnings a deal between the US and Ukraine overnight.
The FTSE 100 was up 0.1% at 8,502.10 in morning trade, inching past the 8,500 mark for the first time in four weeks. The last time the index traded at this level was on 2 April - the day Donald Trump unleashed his sweeping tariffs on America's trade partners and sent global financial markets into a frenzy.
Eagerly awaited results from Wall Street giants Microsoft and Amazon impressed investors overnight as first-quarter numbers topped market forecasts, with shares in both rising strongly in after-hours trading.
"Microsoft and Meta's better than expected results should help quash any fears that the Magnificent Seven group of tech companies have gone off the boil," said Dan Coatsworth, investment analyst at AJ Bell.
"The positive market reaction in pre-market trading to Microsoft's and Meta's numbers represents a turning point for mega cap tech stocks which have endured a poor showing year-to-date."
In other news, the Trump administration reached a minerals deal with Kyiv that will see the US invest in the reconstruction of Ukraine in exchange for preferential access to natural resources deals.
"This agreement signals clearly to Russia that the Trump Administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term," said treasury secretary Scott Bessent in a statement.
Thursday is set to be another busy day for economic data, with consumer credit and mortgage approvals due out in the UK, and Challenger job cuts figures, jobless claims and two key manufacturing PMIs scheduled in the US.
Whitbread impresses, Lloyds disappoints
Leisure group Whitbread was a high riser, jumping 4% after announcing a £250m share buyback following its full-year results. The company reported a 19% drop in annual profits but said its five-year plan was still on track.
Lloyds fell after raising its bad debt provision in the first quarter £309m from £57m a year earlier, citing downside risks from the impact of US tariffs. Net income rose 4% to £4.4bn while pre-tax profit fell 7% to £1.5bn as the bank reaffirmed full-year guidance.
Rolls-Royce gained after reporting a "strong" start to the year and saying it expects to be able to offset the hit from US trade tariffs. In a trading update issued ahead of its AGM, the engineer's chief executive officer said that the company was taking "mitigation actions" with respect to the tariffs.
In contrast, shares in FTSE 250-listed Clarkson slumped after the ship broker issued a profit warning, citing the impact of US tariffs. The company said underlying pre-tax earnings would now be £85m-95m this year, down from £115.3m last year. Clarkson shares tanked in March after it warning that geopolitical and macro challenges would result in lower freight rates and asset values.
A host of stocks were also trading lower after going ex-dividend, including 4Imprint, Centrica and Greggs.
Market Movers
FTSE 100 (UKX) 8,502.10 0.09%
FTSE 250 (MCX) 19,924.56 0.20%
techMARK (TASX) 4,572.36 -0.12%
FTSE 100 - Risers
Whitbread (WTB) 2,699.00p 4.09%
Scottish Mortgage Inv Trust (SMT) 928.80p 3.22%
Anglo American (AAL) 2,092.00p 3.10%
International Consolidated Airlines Group SA (CDI) (IAG) 267.80p 3.00%
easyJet (EZJ) 508.40p 2.79%
Rolls-Royce Holdings (RR.) 773.20p 2.52%
Informa (INF) 745.60p 2.45%
Smurfit Westrock (DI) (SWR) 3,208.00p 2.43%
Entain (ENT) 652.80p 2.38%
InterContinental Hotels Group (IHG) 8,126.00p 2.32%
FTSE 100 - Fallers
BP (BP.) 343.50p -1.94%
Centrica (CNA) 157.55p -1.62%
GSK (GSK) 1,462.00p -1.45%
AstraZeneca (AZN) 10,586.00p -1.32%
Shell (SHEL) 2,410.50p -1.23%
Lloyds Banking Group (LLOY) 72.44p -1.15%
Marks & Spencer Group (MKS) 384.80p -1.08%
Beazley (BEZ) 875.00p -1.07%
BT Group (BT.A) 172.05p -1.01%
Hiscox Limited (DI) (HSX) 1,088.00p -1.00%
FTSE 250 - Risers
Ferrexpo (FXPO) 65.60p 11.38%
Close Brothers Group (CBG) 341.00p 4.99%
Polar Capital Technology Trust (PCT) 300.00p 3.99%
Pets at Home Group (PETS) 244.60p 3.38%
Burberry Group (BRBY) 746.60p 3.18%
Baillie Gifford US Growth Trust (USA) 230.00p 3.14%
Wizz Air Holdings (WIZZ) 1,676.00p 3.08%
Allianz Technology Trust (ATT) 365.50p 2.96%
Mobico Group (MCG) 32.00p 2.89%
JPMorgan American Inv Trust (JAM) 950.00p 2.48%
FTSE 250 - Fallers
Clarkson (CKN) 2,875.00p -12.48%
4Imprint Group (FOUR) 3,055.00p -10.15%
Dr. Martens (DOCS) 52.35p -4.82%
Coats Group (COA) 70.00p -3.31%
Me Group International (MEGP) 195.00p -3.23%
Harbour Energy (HBR) 148.90p -2.68%
Morgan Advanced Materials (MGAM) 192.20p -2.34%
Greggs (GRG) 1,816.00p -2.21%
PPHE Hotel Group Ltd (PPH) 1,222.00p -2.08%
Genuit Group (GEN) 374.50p -1.71%
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN