London open: Stocks gain amid tariff uncertainty; M&G surges
By Michele Maatouk
Date: Friday 30 May 2025
(Sharecast News) - London stocks rose in early trade on Friday as investors mulled the latest twists and turns in the Trump tariff saga.
At 0830 BST, the FTSE 100 was 0.4% higher at 8,753.56.
Derren Nathan, head of equity research at Hargreaves Lansdown, said: "When it comes to global trade right now the only certainty is uncertainty. Just a day after US courts halted the lion's share of Trump's recent tariff increases, judges have temporarily reinstated the new border taxes. Little wonder markets are struggling for direction.
"The Footsie is trying to lift its head above water this morning. But Asian stocks were generally down over night and US futures are pointing to a weak open later today. Investors on Wall Street are also weighing up slightly weaker than expected employment data.
"Markets will be hoping May's core PCE inflation number out later today won't stray much above annualised forecasts of 2.5%. However, the numbers need to be taken with a large pinch of salt given that they're yet to feel the full impact of tariffs. Any sign of worsening inflationary pressure is likely to weigh on expectations for further interest cuts by the Fed this year which would be a worry given the inertia building in the economy."
Corporate news was thin on the ground, but M&G surged to the top of the FTSE 100 after it was announced that Japan's Dai-ichi Life will take a stake in the investment manager after the two firms agreed a long-term strategic partnership.
Under the terms of the deal, the blue chip will become Dai-chi's preferred asset management partner in Europe, while the mutual insurer will acquire a shareholding of around 15% in M&G.
The partnership is expected to generate at least $6bn in new business flows into funds managed by M&G over the next five years, the British firm said.
Elsewhere, Hiscox rallied after an upgrade to 'outperform' by BNP Paribas Exane. It and Beazley were also boosted by reinstatements of coverage at 'buy' by Berenberg.
Alpha Group gained after it said that the deadline by which Corpay must either announce a firm intention to make an offer for the group or walk away has been extended. The company said it held recent discussions with Corpay "and believes that it is in the best interests of shareholders to continue engagement".
Market Movers
FTSE 100 (UKX) 8,753.56 0.43%
FTSE 250 (MCX) 21,007.85 0.05%
techMARK (TASX) 4,823.85 -0.04%
FTSE 100 - Risers
M&G (MNG) 241.70p 7.71%
Hiscox Limited (DI) (HSX) 1,297.00p 3.51%
Beazley (BEZ) 949.00p 1.93%
Admiral Group (ADM) 3,406.00p 1.61%
Reckitt Benckiser Group (RKT) 5,016.00p 1.42%
Marks & Spencer Group (MKS) 377.80p 1.12%
Legal & General Group (LGEN) 249.40p 1.05%
Coca-Cola Europacific Partners (DI) (CCEP) 6,720.00p 1.05%
SSE (SSE) 1,761.00p 1.03%
Rolls-Royce Holdings (RR.) 859.60p 1.01%
FTSE 100 - Fallers
Anglo American (AAL) 2,177.50p -1.25%
Scottish Mortgage Inv Trust (SMT) 983.00p -1.15%
Antofagasta (ANTO) 1,760.00p -1.01%
Rio Tinto (RIO) 4,418.00p -0.96%
Fresnillo (FRES) 1,162.00p -0.77%
Vodafone Group (VOD) 76.36p -0.65%
Intermediate Capital Group (ICG) 2,008.00p -0.59%
Diploma (DPLM) 4,674.00p -0.38%
CRH (CDI) (CRH) 6,790.00p -0.38%
United Utilities Group (UU.) 1,145.50p -0.35%
FTSE 250 - Risers
Alpha Group International (ALPH) 3,185.00p 4.26%
Breedon Group (BREE) 475.00p 3.40%
FirstGroup (FGP) 193.00p 2.82%
Dr. Martens (DOCS) 58.70p 1.65%
Playtech (PTEC) 324.00p 1.41%
Indivior (INDV) 919.50p 1.27%
Me Group International (MEGP) 215.00p 1.18%
Mitie Group (MTO) 159.00p 1.02%
Bakkavor Group (BAKK) 209.00p 0.97%
Just Group (JUST) 150.40p 0.94%
FTSE 250 - Fallers
Bytes Technology Group (BYIT) 499.40p -4.51%
JTC (JTC) 810.00p -2.64%
Quilter (QLT) 144.00p -2.37%
Pagegroup (PAGE) 259.20p -2.26%
Great Portland Estates (GPE) 328.00p -1.94%
Grafton Group Ut (CDI) (GFTU) 989.80p -1.84%
Cranswick (CWK) 5,170.00p -1.71%
NCC Group (NCC) 154.40p -1.53%
RIT Capital Partners (RCP) 1,866.00p -1.37%
Workspace Group (WKP) 415.00p -1.19%
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