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BEFORE THE BELL: LONDON GAINS AFTER STRONG US TECH RESULTS

British shares were set to rise at the open on Thursday as U.S. futures pointed to a strong start on Wall Street, following bullish updates from tech heavyweights Microsoft MSFT.O and Meta Platforms META.O that eased investor concerns.

Most bourses in Europe - from Frankfurt to Paris and Oslo - were shut for Labour Day, as were several markets in Asia, likely reducing activity.

Nasdaq futures rose 1.5% and S&P 500 contracts added 1.1%, building on a slight advance the day before when traders mostly shrugged off a surprise contraction in U.S. economic growth.

Microsoft forecast stronger-than-expected growth for its cloud-computing business after blowout results, lifting its shares 7% after hours. Meta beat analyst revenue estimates for the first quarter, pushing its stock up 5% after hours.

Meanwhile, US President Donald Trump hinted at a potential trade deal with China, signalling a de-escalation. That added to the constructive tone across markets, along with a minerals deal between Ukraine and Washington, coming after months of sometimes fraught negotiations.

FTSE futures rose 0.6%.

There were some UK earnings to digest.

Lloyds Banking Group LLOY.L reported a near 7% drop in Q1 profit; the London Stock Exchange Group LSEG.L beat income growth estimates, while Rolls-Royce RR.L signalled confidence in its targets despite tariff uncertainty.

(Danilo Masoni)

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