London pre-open: Stocks seen flat ahead of US-China trade talks
By Michele Maatouk
Date: Monday 09 Jun 2025
(Sharecast News) - London stocks were set for a flat open on Monday, with all eyes on US-China trade talks due to take place in London.
The FTSE was called to open unchanged at 8,838.
Kathleen Brooks, research director at XTB, said: "News over the weekend suggests that the US and China will resume trade talks in London on Monday, with the issue of concern China's dominance in rare earth minerals.
"Rare earth shipments from China to the US have slowed since President Trump's 'Liberation Day' tariffs in April. The US wants these shipments to be reinstated, while China wants the US to rethink immigration curbs on students, restrictions on access to advanced technology including microchips, and to make it easier for Chinese tech providers to access US consumers.
"The outcome of these discussions will be crucial for market sentiment at the start of this week. A trade agreement between China and the US could calm fears about the economic fallout from US tariff plans, although it is still worth noting that an agreement between the US and the EU is conspicuous by its absence."
In UK corporate news, Revolution Beauty confirmed that Mike Ashley's Frasers Group was one of a number of parties conducting due diligence as part of plans to sell the cosmetic retailer, adding that there was no certainty it would result in a firm offer.
Elsewhere, advertising agency WPP announced that chief executive officer Mark Read will retire on 31 December after more than 30 years with the company, including seven as CEO.
It said Read "has decided that the time is right for him to hand over to a new leader" and that the search for a successor is underway.
Read said: "When I took on this role our mission was to build a simpler, stronger business, and put structure and new energy behind our creativity and performance, powered by world-leading technology. I am proud that our teams across the business have delivered that exceptionally well.
"Our clients today rate us more highly than ever before, we now work with four of the world's five most valuable companies, and our revenues with our biggest clients have grown consistently."
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