Latest market news
Lunchtime market roundup: European stocks up ahead of US CPI data
Stocks in London continued to trade mainly higher at midday Tuesday, while stocks in New York were called to open lower as the US-China tariff pause rally has faded, ahead of US consumer price index inflation data.
The FTSE 100 index was up 11.40 points, 0.1%, at 8,616.38. The FTSE 250 was up 107.52 points, 0.5%, at 20,734.90, and the AIM All-Share was up 1.27 points, 0.2%, at 730.57.
The Cboe UK 100 was up 0.2% at 860.12, the Cboe UK 250 was up 0.5% at 18,143.47, and the Cboe Small Companies was down 0.2% at 15,692.20.
In European equities on Tuesday, the CAC 40 in Paris was up 0.1%, while the DAX 40 in Frankfurt was also 0.1% higher.
Stocks in New York, however, were called lower. The Dow Jones Industrial Average was called down 0.1%, the S&P 500 index 0.3% lower, and the Nasdaq Composite down 0.3%.
‘The party didn‘t last long,’ said AJ Bell analyst Russ Mould. ‘Having seen a strong start to the week on global markets following trade talks between the US and China, the rally has petered out. European markets were generally flat on Tuesday, big chunks of Asia pulled back, while futures prices imply a soggy start to trading on Wall Street later on.
‘Markets had risen on the prospect of tariffs not being as harsh as previously indicated. Now comes the reality that tariffs will still exist in some form, which means it’s not completely back to life before Trump for many businesses around the world.’
Washington and Beijing’s agreement to temporarily reduce tit-for-tat tariffs marks an improvement for trade, but levels remain high and are likely to weigh on economic growth, said a senior Federal Reserve official.
The comments by Governor Adriana Kugler, at a symposium in Ireland, came shortly after the US and China said they would sharply lower tariffs on each other’s goods for 90 days while negotiations continued.
With the latest agreement, the US is set to lower its tariffs on Chinese goods from 145% to 30%, while China will reduce its retaliation from 125% to 10%.
‘I still expect an increase in prices and a slowdown in the economy,’ Kugler warned, although she anticipates this will not happen to the same extent as before.
US officials on Monday announced that the State Department has authorised the sale of military aircraft and equipment to the Gulf state, ahead of President Donald Trump’s visit this week. The deal includes six Boeing CH-47F Chinook helicopters and other equipment for $1.32 billion.
Meanwhile, the UK unemployment rate increased slightly in the three months to March while pay growth declined, numbers on Tuesday showed.
The Office for National Statistics said the UK jobless rate was 4.5% in the three months to March 2025, in line with an FXStreet-cited consensus and up from 4.4% in the previous three-month period to February.
Annual growth in regular pay, which excludes bonuses, was 5.6%, edging down from 5.9% in the three months to February, and falling short of an FXStreet-cited consensus for 5.7%. Annual growth including bonuses was 5.5%, slightly down from 5.6% and outperforming an FXStreet consensus for 5.2%.
The pound was quoted higher at $1.3211 at midday on Tuesday in London, compared to $1.3206 at the equities close on Monday.
The euro stood lower at $1.1105, against $1.1114. Against the yen, the dollar was trading down at JP¥148.03 compared to JP¥148.18.
88 Energy was the leading riser on AIM around midday in London, as the oil exploration firm multiplied more than 16 times higher on the restoration of its shares to trading, following its share consolidation on a 1 share for every 25 basis.
Cap-XX was up 19%.
The Sydney-based designer and manufacturer of supercapacitors and energy management systems secured a design win with an unnamed ‘major’ Asia-based multinational conglomerate which provides advanced audio solutions.
Cap-XX will integrate its supercapacitors into the customer’s ‘next-generation’ headphone platform, which is set for launch in October.
The company added it is well-positioned for potential broader deployment across future product lines.
Mosman Oil & Gas was up 18%.
The helium, hydrogen, and hydrocarbon exploration company said it has negotiated an increase in its interest in the Billy Goat Area of Mutual Interest lease area, to 90% from 20%, in return for funding the upcoming drilling on the lease in its entirety.
Mosman estimated the cost of the well to be less than $200,000, to be funded from existing cash reserves.
ActiveOps rose 7.7%.
The management process automation software provider for back-office operations said a ‘strong start’ to the year has underpinned its confidence in a financial 2026 performance in line with board expectations.
The group secured around an additional £1 million in software-as-a-service annual recurring revenue, as well as about £1.5 million in training and implementation services contacts with six existing customers.
At the other end, Itim Group fell 17%.
The retail software solutions provider swung to a pretax profit of £175,000 in 2024 from a pretax loss of £1.1 million in 2023, driven by an 11% increase in Itim’s top line to £17.9 million from £16.1 million. This was primarily attributed to a 34% increase in project revenue.
In line with 2023, Itim proposed no dividend for 2024.
Chief Executive Ali Athar described 2024 as ‘the most pivotal year for Itim since our IPO’, as the business returned to profitability. Itim expresses confidence in the future but said it remains ‘mindful of the broader market backdrop and potential challenges’.
‘As we look ahead, the board remains cautiously optimistic that our focus on margin enhancement and efficiency will support continued momentum and long-term value creation,’ CEO Athar said.
Brent oil was quoted higher at $65.33 a barrel at midday in London on Tuesday from $65.21 late Monday.
Gold was quoted up at $3,252.95 an ounce against $3,236.25.
Still to come on Tuesday’s economic calendar, US consumer price index inflation data at 1330 BST.
Copyright 2025 Alliance News Ltd. All Rights Reserved.