London pre-open: Stocks to edge up as Ukraine talks remain in focus.


London stocks were set to edge up at the open on Tuesday as investors mulled talks between Donald Trump, Ukrainian president Zelensky and European leaders a day earlier.

Source: Sharecast

The FTSE 100 was called to open around 10 points higher.

Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said: "All eyes were on Washington yesterday, where Zelensky finally hit it off with the US President, raising hopes that peace could be on the horizon.

"The next step is to bring Putin to the negotiating table and find a durable solution. Peace has rarely felt so close."

In UK corporate news, International Workplace Group said full-year earnings would be at the lower end of its forecast range as the Regus owner invested more cash to grow its managed and franchise segments.

The company, which operates serviced offices, reported a rise in adjusted core earnings to $262m for the six months to June from $247m a year ago. It expects annual earnings of $525m-$565m.

Copper mining giant BHP said that full-year profits had fallen to a five-year low, with sluggish demand from China weighing on iron ore prices.

BHP posted a 26% drop in underlying profits to $10.16bn, below consensus estimates of $10.22bn, while revenues dropped 8% to $51.26bn due to the impact of lower iron ore prices and weakness in steelmaking coal markets.

Fintech group Plus500 announced its first strategic expansion into Latin America after establishing a representative office in Colombia.

The company, which operates online CFD trading platforms, said the new office will allow it to deliver a localised and more tailored service to Colombian customers in the OTC market.

Chief executive David Zruia called it a “significant milestone reflecting our commitment to growing the group’s presence in new markets worldwide”.

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