FTSE 100 Live: London stocks defy tariff stand-off; US futures drift lower
Last updated: 11:59 30 May 2025 EDT, First published: 02:15 30 May 2025 EDT
- FTSE 100 up 56 points
- Wall Street opens lower
- M&G jumps 6.6% on Dai-ichi Life tie-up
- US Court of Appeals grants stay on tariffs
4.59pm: FTSE finishes higher
The FTSE 100 Index rose 0.6% today, gaining 56 points to close at 8,772.
4:00 pm – FTSE 100 set to hold gains, attentions on Wall Street
London’s blue-chip benchmark held onto most of the day's gains, and is set to finish the week in green, despite signs that global investor sentiment may again wane, depending on Trump’s next moves with China.
The FTSE 100 was up around 46 points, changing hands at 8,762.
As trading draws towards the London close, attentions are still on New York.
“We think that US stocks, which are on track to rise more than 1% this week, could struggle to rally into the end of the week,” said Kathleen Brooks, research director at XTB.
“The real souring in risk sentiment could come down the line, either later today or during the weekend, if President Trump decides to reapply tariffs to China.
“Nothing can be ruled out at this stage, which is why we expect investors to sit on the sidelines.”
2:51 pm: Wall Street starts lower
Wall Street opened lower Friday as investors juggled mixed economic data and growing trade tensions.
April’s PCE inflation data came in right around expectations—core prices rose just 0.1% on the month—but a surprising 0.8% jump in personal income suggests the Fed may still have reason to stay cautious.
Meanwhile, record-breaking declines in U.S. goods imports and a cooling in consumer spending added to the murky picture.
The S&P 500 fell 0.4%, the Nasdaq lost 0.6%, and the Dow edged down 0.1%.
Trade drama re-entered the spotlight after the U.S. Court of Appeals paused a lower court ruling that would have scrapped Trump-era tariffs, effectively hitting the brakes on yesterday’s wave of optimism. Treasury Secretary Bessent confirmed U.S.-China negotiations have “stalled,” and said progress might now depend on direct talks between Trump and Xi.
As Swissquote’s Ipek Ozkardeskaya put it, “uncertainty has surged—no one is quite sure what’s legal and what’s not anymore.” With the legal fate of tariffs still hanging and a critical June 9 deadline approaching for European trade talks, markets are on edge. The legal tools still at play—ranging from national security to unfair trade practices—mean there’s no clear roadmap forward. And with that, the “Tariff Saga: Act 3” is officially underway.
In corporate news, Gap shares tumbled after warning that rising tariffs could eat into profits, while Boeing bucked the trend, gaining ground as the Justice Department dropped a fraud charge against the company.
1pm: US markets tipped to open down
US stock futures pointed to a weaker start for Wall Street after a federal appeals court temporarily paused a ruling that blocked President Donald Trump's sweeping tariffs, a day after a lower court had blocked them, calling the process behind their rollout “unlawful.”
S&P futures were pointing to a 0.1% loss an hour and a half before the opening bell, with Dow Jones futures flat and those for the Nasdaq just a few points lower.
The FTSE 100, meanwhile, has retraced some of its gains but is still trading 54 points up at 8,770.58.
10.45am: Small caps in the spotlight
M&G is leading the large-cap news on the London market this morning following news of its deal with Japan's Dai-ichi Life, but a handful of small caps aren't to be outdone.
Valereum PLC (AQSE:VLRM) has signed an MoU with US-based Blubird Global, gaining potential sight into US$55 billion of already-tokenised assets. It plans to migrate $2 billion onto its own marketplace, with future tie-ups including co-branded projects and a Valereum-branded version of Blubird’s platform. Big Web3 ambitions are clearly in play.
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) had a buzzing first quarter, with revenue up 36% and production jumping 50%. CEO Marshall Abbott says strong netbacks and new wells at Alberta Llanos set the stage for more growth, with fresh drilling lined up across Carrizales Norte, Rio Cravo Este, and low-risk targets in the Tapir block.
Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF) is kicking off a US$5 million share buyback from 2 June, saying the stock’s too cheap to ignore. Peel Hunt’s handling it across London and Johannesburg. CFO Michael Jones says it’s a smart use of cash that still leaves room for other priorities. Shareholders gave it the nod in February.
Chill Brands Group PLC (LSE:CHLL, OTCQB:CHBRF) says its shares should be back trading soon, with full-year results due in June and interims to follow. It’s also launched Chill Connect to support health and wellness brands, already signing major deals. Ahead of the UK vape ban, it's shifted to rechargeable products and raised $1 million.
9.30am: Footsie's "show of strength"
The FTSE 100 has built on early gains as the morning progresses, despite news that a federal appeals court has temporarily reinstated President Trump’s tariffs just a day after the US Court of International Trade ruled that a large swathe of the US Administration's tariffs were illegal.
Asian markets haven't been quite as resilient, with Japan's Nikkei 225 and Hong Kong's Hang Seng both falling 1.2% on Friday. Shanghai's SSE Composite shed 0.5% while India's BSE Sensex dropped 0.2%.
According to interactive investor's Richard Hunter, the FTSE is displaying a "show of strength," attracting investor attention amid the global turmoil this year given its relative resilience and stability.
"The index is now ahead by 7.1% in the year to date, bolstered by an additional 3.4% in average dividend yield, with the recent record high now just 1.4% away," Hunter added.
"Such proximity to the record level could well leave investors interested in chasing the index, which would represent a positive self-fulfilling outcome.”
The index is now 46 points higher at 8,762.23.
8.45am: Insurers in the limelight
It's not just M&G that's soaring today on news of its tie-up with Dai-ichi Life, other insurers are also rising on the back of that.
Hiscox is up 3%, Beazley has gained 1.8% and Admiral Group Plc (LSE:ADM) is 1.5% higher.
"The move will appeal to investors who are keen to see such cross-border tie-ups given the additional strength and diversity which such deals bring, and M&G shares popped by up to 8% following the news, with a positive read across to others in the sector," commented interactive investor's Richard Hunter.
8.15am: Footsie off to a flying start
The FTSE 100 jumped 35 points at the open to 8,751.64, looking to end the week on the front foot despite the uncertainty that continues around President Trump's tariffs on trading partners.
M&G led the gainers, jumping 6.6% on news of its strategic partnership with Japan's Dai-ichi Life, which is expected to generate $6 billion (£4.5 billion) in business for the UK group over five years.
Beazley PLC (LSE:BEZ) and Hiscox Ltd (LSE:HSX) are also near the top of the leaderboard with gains of more than 2% each.
Miners are down this morning, with Anglo American PLC (LSE:AAL), Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF), Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) and Fresnillo PLC (LSE:FRES) all shedding over 1%.
7.55am: M&G forges Japanese partnership
M&G PLC (LSE:MNG) is tying up with Dai-ichi Life in a strategic partnership that will see Japan's third-largest life insurer taking a 15% stake in the FTSE 100 asset manager.
M&G becomes Dai-ichi’s go-to asset manager in Europe, with the duo aiming to generate $8 billion (£6 billion) in combined new business over five years - $6 billion for M&G and $2 billion for Dai-ichi. The tie-up covers everything from private markets to life insurance, and Dai-ichi gets a seat on M&G’s board.
Both sides say it’s a big step toward long-term growth and global expansion.
7.35: Hard to keep up
The ongoing uncertainty over whether President Trump's tariffs will continue in their current form, be negotiated lower, or disappear entirely, has market analysts scratching their heads—and recalibrating daily while maintaining a sense of humour.
"In less than a week we've had a 1-week forward 50% tariff imposed on the EU, the same tariff delayed by 5 weeks, the US Court of International Trade rule that a large swathe of the US Administration's tariffs are illegal, the Court of Appeal yesterday granting a temporary stay that leaves the tariffs in force while it considers the case, as well as news that the Administration will turn to alternative powers if they lose their court appeal," Deutsche Bank's Jim Reid wrote in a note.
"It really is hard to keep up. Trading and analysing this market successfully requires a lot of luck. Unless of course I get it right and then its skill."
FTSE futures in the meantime have retraced some of their gains, with the London market now expected to open 16 points, or 0.2%, higher.
7.15am: FTSE headed for higher open
The FTSE 100 is expected to get off to a good start as the week draws to a close after a positive close on Wall Street overnight.
Futures have the London index rising almost 32 points, or just over a third of a percent, following a slightly weaker finish on Thursday amid mixed global economic signals and ongoing inflation concerns. President Donald Trump's trade tariffs also continue to grab headlines.
The blue-chip index shed 10 points to 8,716.45.
US stocks ended in the green on Thursday, with all major indexes notching modest gains as investors digested a mix of corporate news and trade policy developments.
The Dow Jones close 0.3% higher, the S&P 500 rose 0.4% and the Nasdaq climbed 0.4%.
A key court ruling grabbed attention late in the day. A federal appeals court decided that former President Trump’s sweeping tariffs will stay in effect for now—just a day after a lower court had blocked them, calling the process behind their rollout “unlawful.” The reversal adds a fresh layer of uncertainty around US trade policy, but markets seemed to take it in stride.
Nvidia jumped more than 3% after reporting better-than-expected revenue for the first quarter. The AI chipmaker did caution that it could miss out on $8 billion in second-quarter sales due to US export restrictions to China, but investors appeared willing to look past that.
