The FTSE 100 opened 6 points higher at 10,331.34 after closing higher yesterday and reversing earlier losses. Investors assessed US President Donald Trump’s arrival in Beijing for talks with Chinese President Xi Jinping amid continued tensions surrounding Iran and inflation, which continues to weigh on market sentiment.

The UK economy grew 0.3% in March, a major improvement from the 0.1% forecasted by analysts. And it takes the first quarter performance to 0.6% GDP growth.

Gainers & Losers

Legal & General Group surged 4.63% to £260, while Barclays advanced 2.27% to £431.95 and National Grid gained 1.80% to £1,299.

Among other gainers, Standard Life rose 1.67% to £760, while British American Tobacco added 1.50% to £4,879 and Imperial Brands edged higher by 1.49% to £2,797.

On the downside, 3i Group plunged 18.01% to £1,985, while Burberry Group declined 2.19% to £1,137 and Coca-Cola HBC slipped 1.69% to £4,192.

Among other laggards, Antofagasta fell 1.30% to £4,243, while Anglo American eased 0.74% to £4,045 and Coca-Cola Europacific Partners edged lower by 0.67% to £6,725.

Burberry Returns to Profit

The fashion house reported £49 million in pre-tax profit in the year to March, marking a recovery from its £66 million pre-tax loss in the previous year. 

Burberry met consensus expectations with £2.4 billion in revenues, down 2% from last year, while its recovery from a loss was not enough to meet analysts’ £88 million pre-tax forecasts. 

The firm notched £5.9 earnings per share, from a £20.9 loss per share last year, but this remained below the £20 per share earnings expectations.

National Grid Profit Increases

National Grid reported a rise in profit in its recent annual results. The electricity company booked a pre-tax profit of £4.2 billion in the last year, up from £3.6 billion the year prior. 

But its revenue declined 4% to £17.6 billion, reflecting the group’s ongoing heavy investment into the grid and additional storm-related costs. 

Earnings per share grew 8% to £78, driven by its record capital investment of £11.6 billion. The group expects to invest at least a further £70 billion over the next 5years into its energy networks and adjacent businesses, with £31 billion committed to investing in UK electricity transmission as part of a push across the industry towards renewable energy.

Corporate Updates

Babcock warned of a £140 million charge on its fixed-price Type 31 frigate contract, pushing total losses on the Royal Navy deal beyond £300 million, though it kept its fiscal 2027 outlook unchanged.

Aviva has backed its full-year outlook as strong trading momentum continued into 2026. The insurer said general insurance premiums rose 19%, while its group undiscounted combined operating ratio improved to 94.1% from 96.6% a year earlier. Retirement sales fell to £1.1 billion from £1.8 billion a year earlier as bulk purchase volumes dropped.

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Global Market View

In the US, tech stocks surged to new highs, though the Dow Jones slipped 0.1%. The Nasdaq Composite jumped 1.2% to hit new highs and the S&P 500 rose 0.6% to its own all-time peak.

In Asia, Tokyo's Nikkei and the Shanghai Composite index both declined 0.7% amid Donald Trump's first full day in China. The Hong Kong Hang Seng rose 0.54%. In India, the Nifty 50 gains 1.32%, while the Sensex climbs 1.23%.