J Sainsbury PLC (LSE:SBRY) to have its say on Thursday…read more
Deliveroo PLC (LSE:ROO) last month confirmed two major milestones — its first-ever net profit and positive free cash flow — but shares are little moved since. Some analysts reckon the market has got it wrong…read more
The BP PLC (LSE:BP.) annual shareholders’ meeting could be a tense one, with both the company and activist investor Elliott Management having been preparing for a potential battle…read more
Announcements due on 17 April:
Trading updates: Deliveroo, Dunelm Group, Ninety One, Rentokil Initial
Finals: J Sainsbury
Overseas earnings: American Express, Blackstone, DR Horton, Marsh & McLennan, TSMC, UnitedHealth Group (all premarket), Netflix (post-market)
AGM: BP
Economic announcements: ECB Rate Decision (EU), Building Permits, Housing Starts, Initial Jobless Claims, Philadelphia Fed Manufacturing Index (all US)
Ex-dividends to reduce FTSE 100 by: 7.65 points (BAE Systems, Rolls-Royce Holdings, London Stock Exchange Group, Unite Group, Fresnillo, Antofagasta, Weir, Convatec)
“>FTSE 100 to open 68 points in the green
7.25am: Green for go
It’s all about respect, baby. Bloomberg has said, citing an unnamed Beijing official, that if the US can drop the invective, the Chinese are ready to engage in positive conversations that could prevent a trade war. Wouldn’t that be nice?
So, the markets are currently guardedly optimistic at the prospect, with Asia’s main bourses in positive territory
In the UK, London is set to open 68.2 points higher at 8,251.5 for a 7.7% gain over the last five trading days. Year-to-date, the UK’s top stocks index is now at parity.
Looking ahead, we have updates from Sainsbury’s and Deliveroo, along with what is likely to be a tense shareholder meeting for BP’s management.
“>5am: What to watch on Thursday”>J Sainsbury PLC (LSE:SBRY) to have its say on Thursday…read more “>5 am: What to watch on Thursday”>5 am: What to watch on Thursday
After Tesco ‘got out the knuckledusters’, as analyst said, with its results and a warning that it is prepared to see profits fall this year amid a heightening of competition in the market, it is time for J Sainsbury PLC (LSE:SBRY) to have its say on Thursday…read more
Deliveroo PLC (LSE:ROO) last month confirmed two major milestones — its first-ever net profit and positive free cash flow — but shares are little moved since. Some analysts reckon the market has got it wrong…read more
The BP PLC (LSE:BP.) annual shareholders’ meeting could be a tense one, with both the company and activist investor Elliott Management having been preparing for a potential battle…read more
Later on, the European Central Bank will unveil its latest policy decision in the early afternoon, with a rate cut expected as US tariffs threaten to drag the bloc into a recession.
In the evening, after the US markets have closed, there will be earnings from Netflix, which will act as a prelude to the first of the so-called Magnificent Seven, which begin to post their earnings from next week.
Announcements due on 17 April:
Trading updates: Deliveroo, Dunelm Group, Ninety One, Rentokil Initial
Finals: J Sainsbury
Overseas earnings: American Express, Blackstone, DR Horton, Marsh & McLennan, TSMC, UnitedHealth Group (all premarket), Netflix (post-market)
AGM: BP
Economic announcements: ECB Rate Decision (EU), Building Permits, Housing Starts, Initial Jobless Claims, Philadelphia Fed Manufacturing Index (all US)
Ex-dividends to reduce FTSE 100 by: 7.65 points (BAE Systems, Rolls-Royce Holdings, London Stock Exchange Group, Unite Group, Fresnillo, Antofagasta, Weir, Convatec)
“>“>
7.25 am: Green for go
It’s all about respect, baby. Bloomberg has said, citing an unnamed Beijing official, that if the US can drop the invective, the Chinese are ready to engage in positive conversations that could prevent a trade war. Wouldn’t that be nice?
So, the markets are currently guardedly optimistic at the prospect, with Asia’s main bourses in positive territory
In the UK, London is set to open 68.2 points higher at 8,251.5 for a 7.7% gain over the last five trading days. Year-to-date, the UK’s top stocks index is now at parity.
Looking ahead, we have updates fom Sainsbury’s and Deliveroo, along with what is likely to be a tense shareholder meeting for BP’s management.
5 am: What to watch on Thursday
After Tesco ‘got out the knuckledusters’, as analyst said, with its results and a warning that it is prepared to see profits fall this year amid a heightening of competition in the market, it is time for J Sainsbury PLC (LSE:SBRY) to have its say on Thursday…read more
Deliveroo PLC (LSE:ROO) last month confirmed two major milestones — its first-ever net profit and positive free cash flow — but shares are little moved since. Some analysts reckon the market has got it wrong…read more
The BP PLC (LSE:BP.) annual shareholders’ meeting could be a tense one, with both the company and activist investor Elliott Management having been preparing for a potential battle…read more
Later on, the European Central Bank will unveil its latest policy decision in the early afternoon, with a rate cut expected as US tariffs threaten to drag the bloc into a recession.
In the evening, after the US markets have closed, there will be earnings from Netflix, which will act as a prelude to the first of the so-called Magnificent Seven, which begin to post their earnings from next week.
Announcements due on 17 April:
Trading updates: Deliveroo, Dunelm Group, Ninety One, Rentokil Initial
Finals: J Sainsbury
Overseas earnings: American Express, Blackstone, DR Horton, Marsh & McLennan, TSMC, UnitedHealth Group (all premarket), Netflix (post-market)
AGM: BP
Economic announcements: ECB Rate Decision (EU), Building Permits, Housing Starts, Initial Jobless Claims, Philadelphia Fed Manufacturing Index (all US)
Ex-dividends to reduce FTSE 100 by: 7.65 points (BAE Systems, Rolls-Royce Holdings, London Stock Exchange Group, Unite Group, Fresnillo, Antofagasta, Weir, Convatec)
“>9.25 am: Footsie remains in the red; metal bashers take a bashing
The blue-chip index remained in the red with no signs of it emerging any time soon.
The escalating trade tensions between the US and China seem to be front of mind.
We entered the session on a generally positive note from Asia, where sentiment was tilted towards a thawing of relations.
The mood music out of Beijing certainly suggested there may be room for a more cordial dialogue.
Enter JD Vance, who looks to be upping the ante once more with a trip to India, the de facto alternative location for America’s cut-price electronics.
The queasy feeling set back in. With the Sino-American stand-off far from settled, the UK’s engineers, big exporters, and tariff targets took the brunt of the selling activity.
Defence contractor BAE Systems was hardest hit, followed by GKN owner Melrose and pump maker Weir.
8.30 am: Sainsbury realistic about its prospects
The FTSE 100 defied the pre-market positivity from Asia to nudge into the red on the last trading day ahead of the long Easter weekend.
The big corporate news came from Sainsbury, which is predicting its profits will be flat this around the £1 billion mark.
The market seems to have taken this as a positive, with the shares up 3% in early trading. And given the headwinds (national insurance and a looming trade war), you can understand the sentiment.
Shore Capital’s Clive Black, a veteran of the sector and widely followed, thinks there may be headroom for Sainsbury to improve on performance as the year unfolds. “A rational market could see upward revision in time,” he said in a note.
7.25 am: Green for go
It’s all about respect, baby. Bloomberg has said, citing an unnamed Beijing official, that if the US can drop the invective, the Chinese are ready to engage in positive conversations that could prevent a trade war. Wouldn’t that be nice?
So, the markets are currently guardedly optimistic at the prospect, with Asia’s main bourses in positive territory
In the UK, London is set to open 68.2 points higher at 8,251.5 for a 7.7% gain over the last five trading days. Year-to-date, the UK’s top stocks index is now at parity.
Looking ahead, we have updates fom Sainsbury’s and Deliveroo, along with what is likely to be a tense shareholder meeting for BP’s management.
5 am: What to watch on Thursday
After Tesco ‘got out the knuckledusters’, as analyst said, with its results and a warning that it is prepared to see profits fall this year amid a heightening of competition in the market, it is time for J Sainsbury PLC (LSE:SBRY) to have its say on Thursday…read more
Deliveroo PLC (LSE:ROO) last month confirmed two major milestones — its first-ever net profit and positive free cash flow — but shares are little moved since. Some analysts reckon the market has got it wrong…read more
The BP PLC (LSE:BP.) annual shareholders’ meeting could be a tense one, with both the company and activist investor Elliott Management having been preparing for a potential battle…read more
Later on, the European Central Bank will unveil its latest policy decision in the early afternoon, with a rate cut expected as US tariffs threaten to drag the bloc into a recession.
In the evening, after the US markets have closed, there will be earnings from Netflix, which will act as a prelude to the first of the so-called Magnificent Seven, which begin to post their earnings from next week.
Announcements due on 17 April:
Trading updates: Deliveroo, Dunelm Group, Ninety One, Rentokil Initial
Finals: J Sainsbury
Overseas earnings: American Express, Blackstone, DR Horton, Marsh & McLennan, TSMC, UnitedHealth Group (all premarket), Netflix (post-market)
AGM: BP
Economic announcements: ECB Rate Decision (EU), Building Permits, Housing Starts, Initial Jobless Claims, Philadelphia Fed Manufacturing Index (all US)
Ex-dividends to reduce FTSE 100 by: 7.65 points (BAE Systems, Rolls-Royce Holdings, London Stock Exchange Group, Unite Group, Fresnillo, Antofagasta, Weir, Convatec)
“>J Sainsbury PLC (LSE:SBRY) to have its say on Thursday…read more “>Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) generated US$61.9 million in revenue from selling 22,750 ounces of gold in the first quarter and has removed all its gold hedges.
CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) is collaborating with DuPont Water Solutions to trial nanofiltration membrane technology aimed at improving lithium recovery in its processing operations.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) reported operational progress across its portfolio and ended the first quarter with A$10.60 million in cash.
Iofina PLC (AIM:IOF, OTC:IOFNF) said it produced 124.1 tonnes of crystalline iodine in the first quarter, slightly up from 123.7 tonnes last year, despite weather-related disruptions in Oklahoma.
“>Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) generated US$61.9 million in revenue from selling 22,750 ounces of gold in the first quarter and has removed all its gold hedges. Read more ...
CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) is collaborating with DuPont Water Solutions to trial nanofiltration membrane technology aimed at improving lithium recovery in its processing operations. Read more …
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) reported operational progress across its portfolio and ended the first quarter with A$10.60 million in cash. Read more …
Iofina PLC (AIM:IOF, OTC:IOFNF) said it produced 124.1 tonnes of crystalline iodine in the first quarter, slightly up from 123.7 tonnes last year, despite weather-related disruptions in Oklahoma. Read more …
“>1:20pm: FTSE down 45 points at lunch
London’s blue-chip benchmark remains on the backfoot, down 45 points or 0.55% at 8,230, as traders wait the long bank holiday without taking any chances.
Looking to Wall Street, the US stock futures were mixed with the Dow Jones Industrial Average futures falling sharply by over 500 points, down 1.5%.
In contrast, futures tied to the S&P 500 and Nasdaq-100 showed modest gains, indicating a partial rebound following Wednesday’s tech-led selloff.
Federal Reserve Chair Jerome Powell’s comments on trade tariffs added pressure to market sentiment.
Speaking in Chicago, Powell warned that tariffs are likely to increase inflation and could slow economic growth, creating a “challenging scenario” for the central bank.
Eli Lilly shares jumped over 11% after its diabetes drug showed strong results in a late-stage trial.
Taiwan Semiconductor also reported better-than-expected first-quarter profits, up 60% year-on-year, supported by demand for AI-related chips.
Meanwhile, Nvidia shares remained flat after revealing a $5.5 billion charge linked to US export restrictions.
1:15pm: ECB cuts rates to 2.25%
The European Central Bank lowered its benchmark interest rate by 25 basis points to 2.25%, marking its third rate cut in 2025.
The decision follows increasing concerns over slowing eurozone growth and escalating trade tensions linked to new tariffs imposed by the United States.
The ECB said the move is aimed at ensuring inflation remains on track to meet a 2% target while supporting growth amid weakening economic conditions.
11:59am: Proactive small-cap headlines
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) generated US$61.9 million in revenue from selling 22,750 ounces of gold in the first quarter and has removed all its gold hedges. Read more ...
CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) is collaborating with DuPont Water Solutions to trial nanofiltration membrane technology aimed at improving lithium recovery in its processing operations. Read more …
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) reported operational progress across its portfolio and ended the first quarter with A$10.60 million in cash. Read more …
Iofina PLC (AIM:IOF, OTC:IOFNF) said it produced 124.1 tonnes of crystalline iodine in the first quarter, slightly up from 123.7 tonnes last year, despite weather-related disruptions in Oklahoma. Read more …
11:05am: FTSE 100 still soft
Late in the morning, the FTSE 100 was down just over 60 points, off 0.77%, changing hands at 8,211.
Thursday’s ‘softness’ in London comes despite somewhat reassuring mood-music in Asia, highlighted AJ Bell investment director Russ Mould.
“Discussions between the US and Japan on trade and noises that China might be open to its own negotiations on trade helped improve the mood music in Asia,” Mould said in a statement.
“Elsewhere, Taiwanese chip manufacturer TSMC provided some reassurance as it posted strong growth and, probably more significantly, said it had not seen any changes in customer behaviour off the back of tariffs.
“Whether that will continue to be the case and whether the situation deteriorates remains an open question.”
10.15 am: Defensives in demand
Sainsbury’s trading update was met with a collective sigh of relief, lifting sentiment across the sector and pulling Tesco higher alongside it.
In a climate of rising labour costs and intensifying price competition, driven in part by Asda, Sainsbury’s decision to hold guidance was taken as a reassuring signal.
Elsewhere, Rentokil’s muted trading statement was treated with similar leniency, with the shares up 3% in early trading.
There was a broader shift towards defensive stocks, as investors looked for stability in companies seen as resilient during economic uncertainty. Supermarkets and consumer staples led the move, with steady updates helping to anchor sentiment in an otherwise cautious market.
Turning to the broader market, the Footsie continued its slide into the red amid renewed trade war fears.
9.25 am: Footsie remains in the red; metal bashers take a bashing
The blue-chip index remained in the red with no signs of it emerging any time soon.
The escalating trade tensions between the US and China seem to be front of mind.
We entered the session on a generally positive note from Asia, where sentiment was tilted towards a thawing of relations.
The mood music out of Beijing certainly suggested there may be room for a more cordial dialogue.
Enter JD Vance, who looks to be upping the ante once more with a trip to India, the de facto alternative location for America’s cut-price electronics.
The queasy feeling set back in. With the Sino-American stand-off far from settled, the UK’s engineers, big exporters, and tariff targets took the brunt of the selling activity.
Defence contractor BAE Systems was hardest hit, followed by GKN owner Melrose and pump maker Weir.
8.30 am: Sainsbury realistic about its prospects
The FTSE 100 defied the pre-market positivity from Asia to nudge into the red on the last trading day ahead of the long Easter weekend.
The big corporate news came from Sainsbury, which is predicting its profits will be flat this around the £1 billion mark.
The market seems to have taken this as a positive, with the shares up 3% in early trading. And given the headwinds (national insurance and a looming trade war), you can understand the sentiment.
Shore Capital’s Clive Black, a veteran of the sector and widely followed, thinks there may be headroom for Sainsbury to improve on performance as the year unfolds. “A rational market could see upward revision in time,” he said in a note.
7.25 am: Green for go
It’s all about respect, baby. Bloomberg has said, citing an unnamed Beijing official, that if the US can drop the invective, the Chinese are ready to engage in positive conversations that could prevent a trade war. Wouldn’t that be nice?
So, the markets are currently guardedly optimistic at the prospect, with Asia’s main bourses in positive territory
In the UK, London is set to open 68.2 points higher at 8,251.5 for a 7.7% gain over the last five trading days. Year-to-date, the UK’s top stocks index is now at parity.
Looking ahead, we have updates fom Sainsbury’s and Deliveroo, along with what is likely to be a tense shareholder meeting for BP’s management.
5 am: What to watch on Thursday
After Tesco ‘got out the knuckledusters’, as analyst said, with its results and a warning that it is prepared to see profits fall this year amid a heightening of competition in the market, it is time for J Sainsbury PLC (LSE:SBRY) to have its say on Thursday…read more
Deliveroo PLC (LSE:ROO) last month confirmed two major milestones — its first-ever net profit and positive free cash flow — but shares are little moved since. Some analysts reckon the market has got it wrong…read more
The BP PLC (LSE:BP.) annual shareholders’ meeting could be a tense one, with both the company and activist investor Elliott Management having been preparing for a potential battle…read more
Later on, the European Central Bank will unveil its latest policy decision in the early afternoon, with a rate cut expected as US tariffs threaten to drag the bloc into a recession.
In the evening, after the US markets have closed, there will be earnings from Netflix, which will act as a prelude to the first of the so-called Magnificent Seven, which begin to post their earnings from next week.
Announcements due on 17 April:
Trading updates: Deliveroo, Dunelm Group, Ninety One, Rentokil Initial
Finals: J Sainsbury
Overseas earnings: American Express, Blackstone, DR Horton, Marsh & McLennan, TSMC, UnitedHealth Group (all premarket), Netflix (post-market)
AGM: BP
Economic announcements: ECB Rate Decision (EU), Building Permits, Housing Starts, Initial Jobless Claims, Philadelphia Fed Manufacturing Index (all US)
Ex-dividends to reduce FTSE 100 by: 7.65 points (BAE Systems, Rolls-Royce Holdings, London Stock Exchange Group, Unite Group, Fresnillo, Antofagasta, Weir, Convatec)
“>Fresnillo PLC (LSE:FRES) and Endeavour Mining were among the top FTSE 100 fallers going into the final hour of Thursday trading, with shares down 5% and 3.6% respectively. The declines come as gold prices ease following a sharp rally that has seen the metal gain more than 10% over the past six sessions.
Although the broader outlook for gold remains strong, supported by central bank demand, geopolitical uncertainty and a soft US dollar, the market looks technically stretched. Prices briefly touched 3,300 dollars an ounce, a key resistance level, before pulling back.
Technical analysts suggest a move lower toward 3,200 dollars could be healthy, offering a chance for value investors to re-enter. Despite today’s weakness, the uptrend appears intact. Some traders are now eyeing 3,500 dollars as a medium-term target, although near-term consolidation looks likely as momentum cools.
“>
- FTSE 100 2 points lower at 8,273.52
- Precious metals stocks lead the fallers
- Dow opens in the red
- ECB cuts rates to 2.25%
3.49 pm: Fresnillo and Endeavour slide as gold rally stalls
Fresnillo PLC (LSE:FRES) and Endeavour Mining were among the top FTSE 100 fallers going into the final hour of Thursday trading, with shares down 5% and 3.6% respectively. The declines come as gold prices ease following a sharp rally that has seen the metal gain more than 10% over the past six sessions.
Although the broader outlook for gold remains strong, supported by central bank demand, geopolitical uncertainty and a soft US dollar, the market looks technically stretched. Prices briefly touched 3,300 dollars an ounce, a key resistance level, before pulling back.
Technical analysts suggest a move lower toward 3,200 dollars could be healthy, offering a chance for value investors to re-enter. Despite today’s weakness, the uptrend appears intact. Some traders are now eyeing 3,500 dollars as a medium-term target, although near-term consolidation looks likely as momentum cools.
2.45 pm: Footsie pares losses as Wall Street opens in the red
The FTSE 100 seemed to gain some confidence from the US fter the open, but how and where is a mystery.
Wall Street kicked off Thursday with a noticeable split in direction, as investors sifted through a fresh wave of corporate earnings and sector swings that sent the major indexes on divergent paths.
The Dow dropped sharply, falling 533 points, or 1.3%, to 39,137. The blue-chip index was dragged down almost singlehandedly by a steep drop in UnitedHealth shares, which were down over 19% at the opening bell.
Meanwhile, the S&P 500 inched higher, gaining 10 points, or 0.2%, to 5,286. The broader market got a lift from two big names: Eli Lilly and Taiwan Semiconductor.
Lilly surged after reporting strong clinical trial results for its weight-loss drug, while TSMC jumped on a massive 60% surge in quarterly profits, driven by relentless demand for AI chips.
The Nasdaq Composite was flat, ticking down just 5 points to 16,302. The tech-heavy index reflected a market trying to find its footing – gains in Eli Lilly and TSMC helped counterbalance losses in other large-cap tech names.
Investors appear to be weighing positive earnings news against ongoing worries about export restrictions and cautious corporate outlooks.
1:20pm: FTSE down 45 points at lunch
London’s blue-chip benchmark remains on the backfoot, down 45 points or 0.55% at 8,230, as traders wait the long bank holiday without taking any chances.
Looking to Wall Street, the US stock futures were mixed with the Dow Jones Industrial Average futures falling sharply by over 500 points, down 1.5%.
In contrast, futures tied to the S&P 500 and Nasdaq-100 showed modest gains, indicating a partial rebound following Wednesday’s tech-led selloff.
Federal Reserve Chair Jerome Powell’s comments on trade tariffs added pressure to market sentiment.
Speaking in Chicago, Powell warned that tariffs are likely to increase inflation and could slow economic growth, creating a “challenging scenario” for the central bank.
Eli Lilly shares jumped over 11% after its diabetes drug showed strong results in a late-stage trial.
Taiwan Semiconductor also reported better-than-expected first-quarter profits, up 60% year-on-year, supported by demand for AI-related chips.
Meanwhile, Nvidia shares remained flat after revealing a $5.5 billion charge linked to US export restrictions.
1:15pm: ECB cuts rates to 2.25%
The European Central Bank lowered its benchmark interest rate by 25 basis points to 2.25%, marking its third rate cut in 2025.
The decision follows increasing concerns over slowing eurozone growth and escalating trade tensions linked to new tariffs imposed by the United States.
The ECB said the move is aimed at ensuring inflation remains on track to meet a 2% target while supporting growth amid weakening economic conditions.
11:59am: Proactive small-cap headlines
Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) generated US$61.9 million in revenue from selling 22,750 ounces of gold in the first quarter and has removed all its gold hedges. Read more ...
CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) is collaborating with DuPont Water Solutions to trial nanofiltration membrane technology aimed at improving lithium recovery in its processing operations. Read more …
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) reported operational progress across its portfolio and ended the first quarter with A$10.60 million in cash. Read more …
Iofina PLC (AIM:IOF, OTC:IOFNF) said it produced 124.1 tonnes of crystalline iodine in the first quarter, slightly up from 123.7 tonnes last year, despite weather-related disruptions in Oklahoma. Read more …
11:05am: FTSE 100 still soft
Late in the morning, the FTSE 100 was down just over 60 points, off 0.77%, changing hands at 8,211.
Thursday’s ‘softness’ in London comes despite somewhat reassuring mood-music in Asia, highlighted AJ Bell investment director Russ Mould.
“Discussions between the US and Japan on trade and noises that China might be open to its own negotiations on trade helped improve the mood music in Asia,” Mould said in a statement.
“Elsewhere, Taiwanese chip manufacturer TSMC provided some reassurance as it posted strong growth and, probably more significantly, said it had not seen any changes in customer behaviour off the back of tariffs.
“Whether that will continue to be the case and whether the situation deteriorates remains an open question.”
10.15 am: Defensives in demand
Sainsbury’s trading update was met with a collective sigh of relief, lifting sentiment across the sector and pulling Tesco higher alongside it.
In a climate of rising labour costs and intensifying price competition, driven in part by Asda, Sainsbury’s decision to hold guidance was taken as a reassuring signal.
Elsewhere, Rentokil’s muted trading statement was treated with similar leniency, with the shares up 3% in early trading.
There was a broader shift towards defensive stocks, as investors looked for stability in companies seen as resilient during economic uncertainty. Supermarkets and consumer staples led the move, with steady updates helping to anchor sentiment in an otherwise cautious market.
Turning to the broader market, the Footsie continued its slide into the red amid renewed trade war fears.
9.25 am: Footsie remains in the red; metal bashers take a bashing
The blue-chip index remained in the red with no signs of it emerging any time soon.
The escalating trade tensions between the US and China seem to be front of mind.
We entered the session on a generally positive note from Asia, where sentiment was tilted towards a thawing of relations.
The mood music out of Beijing certainly suggested there may be room for a more cordial dialogue.
Enter JD Vance, who looks to be upping the ante once more with a trip to India, the de facto alternative location for America’s cut-price electronics.
The queasy feeling set back in. With the Sino-American stand-off far from settled, the UK’s engineers, big exporters, and tariff targets took the brunt of the selling activity.
Defence contractor BAE Systems was hardest hit, followed by GKN owner Melrose and pump maker Weir.
8.30 am: Sainsbury realistic about its prospects
The FTSE 100 defied the pre-market positivity from Asia to nudge into the red on the last trading day ahead of the long Easter weekend.
The big corporate news came from Sainsbury, which is predicting its profits will be flat this around the £1 billion mark.
The market seems to have taken this as a positive, with the shares up 3% in early trading. And given the headwinds (national insurance and a looming trade war), you can understand the sentiment.
Shore Capital’s Clive Black, a veteran of the sector and widely followed, thinks there may be headroom for Sainsbury to improve on performance as the year unfolds. “A rational market could see upward revision in time,” he said in a note.
7.25 am: Green for go
It’s all about respect, baby. Bloomberg has said, citing an unnamed Beijing official, that if the US can drop the invective, the Chinese are ready to engage in positive conversations that could prevent a trade war. Wouldn’t that be nice?
So, the markets are currently guardedly optimistic at the prospect, with Asia’s main bourses in positive territory
In the UK, London is set to open 68.2 points higher at 8,251.5 for a 7.7% gain over the last five trading days. Year-to-date, the UK’s top stocks index is now at parity.
Looking ahead, we have updates fom Sainsbury’s and Deliveroo, along with what is likely to be a tense shareholder meeting for BP’s management.
5 am: What to watch on Thursday
After Tesco ‘got out the knuckledusters’, as analyst said, with its results and a warning that it is prepared to see profits fall this year amid a heightening of competition in the market, it is time for J Sainsbury PLC (LSE:SBRY) to have its say on Thursday…read more
Deliveroo PLC (LSE:ROO) last month confirmed two major milestones — its first-ever net profit and positive free cash flow — but shares are little moved since. Some analysts reckon the market has got it wrong…read more
The BP PLC (LSE:BP.) annual shareholders’ meeting could be a tense one, with both the company and activist investor Elliott Management having been preparing for a potential battle…read more
Later on, the European Central Bank will unveil its latest policy decision in the early afternoon, with a rate cut expected as US tariffs threaten to drag the bloc into a recession.
In the evening, after the US markets have closed, there will be earnings from Netflix, which will act as a prelude to the first of the so-called Magnificent Seven, which begin to post their earnings from next week.
Announcements due on 17 April:
Trading updates: Deliveroo, Dunelm Group, Ninety One, Rentokil Initial
Finals: J Sainsbury
Overseas earnings: American Express, Blackstone, DR Horton, Marsh & McLennan, TSMC, UnitedHealth Group (all premarket), Netflix (post-market)
AGM: BP
Economic announcements: ECB Rate Decision (EU), Building Permits, Housing Starts, Initial Jobless Claims, Philadelphia Fed Manufacturing Index (all US)
Ex-dividends to reduce FTSE 100 by: 7.65 points (BAE Systems, Rolls-Royce Holdings, London Stock Exchange Group, Unite Group, Fresnillo, Antofagasta, Weir, Convatec)
