London pre-open: FTSE 100 futures pointing higher on US-China trade optimism
By Alexander Bueso
Date: Friday 02 May 2025
(Sharecast News) - Stocks are set to start the morning higher after Beijing opened the door to trade talks with Washington.
As of 0637 GMT, futures tracking the FTSE 100 were adding 43.50 points to 8,542.0, alongside a 26.25 point advance in the S&P mini futures contract to 5,649.50.
Overnight, China's Commerce Ministry issued a statement on Friday in which it highlighted what it said were repeated expressions of a willingness on the part of US officials to negotiate.
According to the ministry, Washington had recently made overtures "through relevant parties".
Beijing was said to thus now be "evaluating" those approaches.
Against that backdrop, at 1230 GMT the US Department of Labor would release its non-farm payrolls report for the month of April, which could conceivably set the tone for trading in financial markets during the month of May.
On the other side of the Channel meanwhile, at 0800 GMT S&P Global would release the results of its euro area manufacturing sector Purchasing Managers' Index.
A preliminary reading for euro area consumer prices in April would follow an hour later.
Shell approves 13th consecutive quarterly share buyback programme of over $3bn
Shell posted better-than-expected first quarter adjusted earnings and launched a fresh $3.5bn share buyback programme. The oil major's adjusted profit reached $5.58bn (consensus: $4.96bn) on $69.23bn of revenues, for earnings per share of 92 US cents. Cash flow from operations came in at $9.28bn (consensus: $9.6bn). Net debt at period end stood at $41.52bn. The company also declared a quarterly dividend of 35.8 US cents.
Asia-focused bank Standard Chartered reported better-than-expected first-quarter profit, driven by strong growth in its wealth management but also warned of the impact of US President Donald Trump's trade war. Pre-tax profit for the three months to March came in at $2.10bn, up from $1.91bn and the $1.905bn consensus average. "Imposition of trade tariffs has increased global economic and geopolitical complexity, and we remain watchful of the external environment," said chief executive Bill Winters.
Pearson reported a 1% increase in underlying first-quarter group sales on Friday, and confirmed it was on track to meet its full-year guidance, with stronger growth anticipated in the second half. The FTSE 100 education publisher said all business units performed in line with expectations, including a 6% rise in higher education sales. It said it was advancing its strategic goals through product innovation, contract wins, a brand relaunch, and the launch of a £350m share buyback programme.
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