London pre-open: Stocks to edge higher; Michigan sentiment eyed
By Michele Maatouk
Date: Friday 16 May 2025
(Sharecast News) - London stocks were set to edge up at the open on Friday following a mostly positive US session.
The FTSE 100 was called to open around 10 points higher.
There are no major UK data releases due, but in the US, the Michigan consumer sentiment index for May will be eyed.
Danske Bank said it will provide markets with the latest sense of how consumers are feeling after the tariffs took effect.
"Earlier surveys have shown a sharp deterioration in future expectations and rapid upticks in inflation expectations," it noted.
In corporate news, specialist media platform Future reported a jump in interim profits but cautioned that it expected a low single-digit decline in full-year 2025 organic revenue amid economic uncertainty.
The company posted a 21% increase in pre-tax profit to £56.6m for the six months to March. Revenue fell 3% to £378.4m, as growth in the first quarter was offset by uncertain macroeconomic sentiment in March, impacting US direct advertising.
Fresnillo announced the sale of the majority of its stake in MAG Silver following Pan American Silver's agreement to acquire MAG, as the resulting reduced shareholding in Pan American would no longer align with Fresnillo's strategic investment objectives.
The company said it was still confident in the performance of the Juanicipio mine, where it is operator and majority owner, and emphasised that the partnership terms at the asset remain unchanged.
Proceeds from the share sale would be used in line with Fresnillo's capital allocation priorities, including growth investments and balance sheet strength.
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