London open: Stocks nudge up as investors eye US inflation, UK GDP

(Sharecast News) - London stocks were just a smidgen firmer in early trade on Monday, paring opening losses as investors eyed the release of key US inflation and UK growth figures later in the week. At 0905 BST, the FTSE 100 was 0.1% higher at 8,242.24.

Susannah Streeter head of money and markets at Hargreaves Lansdown, said: "It's been a lacklustre start for the FTSE 100, which only made small steps of progress in early trade, with scant positive data around to spark significant gains amid ongoing caution. The latest snapshot of business activity in the US has caused fresh uncertainty, with the PMI numbers showing robust growth. There are worries it could lead to the Fed holding off from cutting interest rates for longer. The official US GDP data out on Thursday will be closely watched to establish just how stubborn inflation could be in the last yards down to target.

"The UK's growth snapshot is out on Friday, and although the expectations are that it might show a shift out of stagnation mode, it's unlikely to be so significant that it'll help propel the Conservatives' election prospects forward in any meaningful way."

In equity markets, Prudential was the standout gainer on the FTSE 100 after saying it would return $2bn to investors via a share buyback to be completed by mid-2026.

Britvic fizzed higher again as Carlsberg confirmed that PepsiCo has agreed to waive the change of control clause in the bottling arrangements it has with Britvic, removing a potential hurdle in the Danish brewer's pursuit of the UK drinks company.

Britvic shares surged on Friday after it confirmed it had rejected a £3.1bn takeover proposal from Carlsberg.

Ecommerce services and fulfilment group THG advanced as it announced a new multi-year partnership with retail conglomerate Frasers Group that includes the sale of its portfolio of luxury goods websites. Mike Ashley's Frasers was also in the black.

Insulation and building products group SIG tumbled as it delivered a profit warning after a challenging first half, as ongoing softness in the building and construction sector across Europe resulted in subdued demand across the majority of its end-markets.

Market Movers

FTSE 100 (UKX) 8,242.24 0.05% FTSE 250 (MCX) 20,374.55 -0.33% techMARK (TASX) 4,808.07 -0.28%

FTSE 100 - Risers

Prudential (PRU) 746.80p 5.60% Burberry Group (BRBY) 1,011.50p 2.69% JD Sports Fashion (JD.) 129.30p 2.54% Associated British Foods (ABF) 2,501.00p 1.34% British American Tobacco (BATS) 2,519.00p 1.25% BT Group (BT.A) 143.10p 1.06% NATWEST GROUP (NWG) 318.00p 1.02% Coca-Cola HBC AG (CDI) (CCH) 2,726.00p 0.96% Antofagasta (ANTO) 2,077.00p 0.92% Convatec Group (CTEC) 239.20p 0.84%

FTSE 100 - Fallers

Flutter Entertainment (DI) (FLTR) 14,620.00p -2.95% Smurfit Kappa Group (CDI) (SKG) 3,608.00p -1.37% United Utilities Group (UU.) 996.20p -1.32% Entain (ENT) 655.00p -1.21% National Grid (NG.) 888.00p -1.20% Severn Trent (SVT) 2,435.00p -1.18% Berkeley Group Holdings (The) (BKG) 4,682.00p -1.01% LondonMetric Property (LMP) 193.00p -0.97% Fresnillo (FRES) 551.50p -0.90% DCC (CDI) (DCC) 5,545.00p -0.89%

FTSE 250 - Risers

Britvic (BVIC) 1,182.00p 8.04% SThree (STEM) 444.00p 3.50% Watches of Switzerland Group (WOSG) 403.60p 2.91% CMC Markets (CMCX) 324.50p 2.20% PZ Cussons (PZC) 103.00p 2.18% SDCL Energy Efficiency Income Trust (SEIT) 64.30p 2.06% Moonpig Group (MOON) 162.60p 1.75% Balanced Commercial Property Trust Limited (BCPT) 78.30p 1.69% Syncona Limited NPV (SYNC) 111.80p 1.64% Tate & Lyle (TATE) 630.00p 1.37%

FTSE 250 - Fallers

Helios Towers (HTWS) 114.00p -3.23% Ocado Group (OCDO) 301.80p -3.08% Petershill Partners (PHLL) 204.00p -2.86% Alpha Group International (ALPH) 2,410.00p -2.82% Asia Dragon Trust (DGN) 398.00p -2.69% Foresight Group Holdings Limited NPV (FSG) 485.00p -2.61% Trustpilot Group (TRST) 224.50p -2.39% Pacific Horizon Inv Trust (PHI) 635.00p -2.16% Dunelm Group (DNLM) 1,049.00p -2.15% Fidelity China Special Situations (FCSS) 207.00p -2.13%