London pre-open: Stocks seen up; US-China trade talks eyed
By Michele Maatouk
Date: Friday 09 May 2025
(Sharecast News) - London stocks were set to gain at the open on Friday following a solid session on Wall Street, as investors mulled the trade deal struck between the US and the UK and looked to US-China talks over the weekend.
The FTSE 100 was called to open around 30 points higher.
China and the US are due to hold talks on tariffs in Switzerland at the weekend.
Danske Bank said: "The main goal of the talks will be to agree on lowering tariffs from the current prohibitively high rates, which are a de facto trade embargo on most goods.
"We believe they will agree on getting tariffs down to around 60% soon, as the economic pain is growing on both sides."
In UK corporate news, British Airways owner IAG held annual guidance after a surge in first-quarter operating profits, adding that second quarter revenue was ahead of last year.
Operating profit before exceptional items increased by €130m to €198m as strong revenue growth and a lower fuel price offset expected cost increases, IAG said.
Rightmove reiterated its full-year 2025 guidance, expecting 8% to 10% revenue growth and a 70% underlying operating profit margin, supported by continued ARPA growth and rising membership across its Core business.
The FTSE 100 property marketing portal highlighted strong innovation across its platform in a trading update, including new AI-driven features and expanded tools for partners and consumers in areas such as mortgages, rentals, and commercial property.
It said its market data showed improving sentiment in the resale and new homes sectors, while the rental market remained undersupplied despite easing demand pressures.
Elsewhere, AstraZeneca reported positive results from a Phase III trial of its treatment for non-muscle-invasive bladder cancer (NMIBC).
Over a one-year period, Imfinzi, otherwise known as durvalumab, demonstrated "statistically significant and clinically meaningful improvement" in the disease-free survival of patients suffering from high-risk NMIBC.
Cristian Massacesi, AstraZeneca's chief medical officer and oncology chief development officer, said the trial results represent a "significant advance that will potentially allow more patients with early-stage bladder cancer to benefit from this important immunotherapy".
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