The Bullhorn

The Bank of England keeps rates on hold, but the global economy? Not so chill. Oil prices are surging, war drums are thumping in the Middle East, and central banks can't agree on anything — except that it's all a bit of a mess.Today on Bullhorn Daily, we explain what the BoE’s decision means for your wallet, why oil’s on a four-month high, and how Gen Z just became the most optimistic generation (yep, really). Plus: a beauty stock faceplants, construction booms in Europe, and everyone’s watching Friday like it’s a season finale.Markets made simple. Finance without the fluff. Let’s go.📋 Show Notes:BOE: The ‘Hold’ Heard Round LondonWhy the Bank of England left rates unchanged, and what that means for inflation, mortgages, and your future self.The Market Mood: Gloomy with a Chance of WarOil prices surge on fears of a U.S.-Iran escalation — we explain what’s happening and why it’s spooking investors.Stocks: Winners, Losers, and Total CollapsesFrom Revolution Beauty’s 40% crash to BP’s oil-fueled rally, we break down the biggest market moves.Gen Z: Finally Some Good News?Consumer confidence ticks up — and younger people are leading the charge. We look at why optimism is on the rise.Europe: Building Up, Tensions UpConstruction activity surprises to the upside, even as investor nerves fray across the continent.Asia: Oil Up, Stocks DownGeopolitical uncertainty sends Asian markets lower — with a few surprise winners.Quick Hits: Economy CornerAustralia’s job market, the Fed’s rate stance, and what’s next for inflation and growth.Tomorrow: What We’re WatchingRetail sales, public borrowing, Iran talks in Geneva, and a vibe check on Europe’s diplomacy efforts.

The Federal Reserve stands still while the rest of the world spins — and possibly burns. On today’s Bullhorn Daily, we break down why US interest rates remain unchanged, what the latest Fed forecasts mean for 2025, and why Jerome Powell’s crystal ball is looking a little cloudy.Meanwhile, markets are flinching at every word out of Donald Trump’s mouth as tensions between Israel and Iran escalate — and the US edges closer to involvement. We look at how global stocks, oil prices, and safe-haven currencies are reacting to the geopolitical heat.Plus: UK inflation stays sticky, the Bank of England’s next move hangs in the balance, and Singapore slashes its growth outlook. We also unpack the biggest movers on the London Stock Exchange — from Rathbones and ME Group to Tullow Oil’s brutal nosedive.As always, we explain what matters, why it matters, and what it means for you — without the jargon. Let’s get into it.📝 Show Notes:US Fed keeps interest rates steady for the fourth straight meetingForecasts now suggest just two rate cuts in 2025, down from earlier expectationsJerome Powell warns of uncertainty from Trump’s tariff proposalsTrump teases possible Iran strike, prompting market jitters and oil price volatilityDow and S&P dip while Nasdaq inches higher as investors stay cautiousUK inflation holds at 3.4% — food prices surge, housing market coolsBank of England likely to hold rates steady at Thursday’s meetingCBI cuts UK growth forecast for 2025 to 1.2%FTSE ends higher, boosted by Rathbones, ME Group, and airlinesTullow Oil crashes after failed merger talks; PZ Cussons and AO World slideEurope’s Stoxx 600 hits lowest level since May 9 amid Middle East tensionsAsia-Pacific markets mixed as Japan rallies, Hong Kong sinksJapan’s exports fall in May, Singapore growth expectations revised downFollow Bullhorn Daily for your fast, fun, and clear-eyed take on global markets, investing, and the financial news that actually matters.

President Trump exits the G7 summit with a warning for Tehran and markets recoil. We unpack how the escalating Middle East crisis is rattling investors, lifting oil, and souring global sentiment. Plus, US retail sales slump, airline shares dive, and the UK clinches a trade deal with Washington. From Wall Street to Westminster, here’s what you need to know.📝 Show Notes:US stocks fell sharply Tuesday as President Trump called for the evacuation of Tehran and issued threats against Iran’s leadership.Oil prices jumped after tanker collisions and tensions in the Strait of Hormuz, fuelling gains in energy stocks and heavy losses in travel names.US retail sales declined 0.9% in May — the steepest drop in four months — while capacity utilisation missed expectations and housing sentiment dropped to 2022 lows.Trump and UK Prime Minister Keir Starmer signed a new bilateral trade deal, lifting tariffs on British exports.European markets declined as the conflict intensified, though German investor sentiment surged to a 26-month high.Asia-Pacific equities were mixed, with Japan rising and China slipping. The Bank of Japan held rates steady but signalled a slow unwind of bond purchases.Trump failed to strike a trade deal with Japan, raising the prospect of steep US tariffs on Japanese goods next month.Ocean Wilsons soared in London after announcing a merger with Hansa Investment Company.Morgan Sindall and B&M also rallied on upbeat updates, while Bunzl slumped on a broker downgrade.

Global markets slipped and oil prices surged as Donald Trump abruptly departed the G7 summit and called for an evacuation of Tehran, reigniting fears of escalation in the Middle East. In today’s episode, we break down the geopolitical shockwaves, the oil market’s reaction, and why the FTSE is faring better than its European peers. Plus: a UK-US trade deal, Morgan Sindall’s earnings surprise, and Asia’s mixed day.Show Notes:US futures fall as Trump leaves the G7 early and warns TehranBrent crude spikes amid tanker fire near the UAE and Hormuz risksFTSE 100 outperforms thanks to BP, Shell and new UK-US trade dealEuropean banks slump as geopolitical tensions hit risk appetiteMorgan Sindall surges after raising 2025 guidanceJapan holds rates, plans gradual bond tapering; trade talks with US stallSingapore export shock; China tech drags; Nikkei gainsZEW sentiment beats expectations in GermanyAirline stocks down on oil price pressuresMarket outlook: risk-off sentiment prevails amid conflict fears

Wall Street rebounds and oil retreats as Iran signals a willingness to de-escalate. With missiles still flying, markets are betting on containment — not escalation. Meanwhile, retail sales roar back in China, and takeover talk fuels sharp moves in London and Europe.We break down the day’s key moves across the U.S., Europe, and Asia — from the Strait of Hormuz to the FTSE and beyond.📌 Show NotesWall Street climbs as Middle East tensions appear containedOil prices fall despite attacks on energy infrastructureIran reportedly urges Saudi Arabia to push for a U.S.-brokered ceasefireEmpire State manufacturing data sinks further into contractionFTSE and Stoxx 600 rise on hopes for diplomatic off-rampEntain, Metro Bank, and Spectris soar on guidance upgrades and M&A buzzChina’s retail sales beat forecasts; industrial output and property lagSouth Korea’s Kakao stocks and Japan’s chipmakers lead Asia’s rallyRenault tumbles as CEO de Meo eyes move to Kering

Markets tread water as trade talks resume in London. While chip stocks rally and crypto surges, China’s economic data casts a long shadow. We break down a cautious Monday across Wall Street, London, and Asia — where investors are watching every move in a fragile U.S.–China detente.Plus: Apple disappoints, Spectris soars, and the Nasdaq edges closer to 20,000.⏱ Show Notes / Timestamps00:00 – Intro: Markets flat as U.S.–China trade talks resume00:42 – Wall Street: S&P inches higher, chip stocks lead gains02:15 – Movers: Apple slips, Warner Bros splits, Bitcoin surges03:34 – Commodities & currencies: Oil climbs, yields fall, dollar softens04:20 – London: Mixed close; Spectris rockets, WPP slides05:35 – China: Exports slump, prices fall, stimulus hopes grow06:50 – Asia-Pacific: Hong Kong rallies, Japan revises GDP, Korea rebounds08:15 – Europe: Stocks stall as traders eye London trade talks09:00 – Wrap: Trade diplomacy and data in the spotlight this week

Markets surged after a better-than-expected U.S. jobs report pushed the S&P 500 back above 6,000 and sent the Dow into positive territory for the year. But behind the gains, warnings about growth, trade, and inflation continue to mount. We break down the week’s final moves — from Wall Street to Wellington — and what they mean for the global economy heading into summer. ⏱ Show Notes / Timestamps 00:00 – Intro: Jobs up, markets higher, but risks remain 00:45 – Wall Street: S&P reclaims 6,000, Dow turns positive for 2025 02:10 – U.S. Data: Nonfarm payrolls, wages, and Fed outlook 03:20 – Trade Talks: Trump and Xi agree to resume negotiations 04:00 – London: FTSE gains, house prices dip, Dr Martens rallies 05:10 – Europe: GDP revised higher, but German trade weak 06:30 – Market Movers: Canal+, Prudential, Adidas, Puma, Phoenix Group 07:30 – Asia-Pacific: Mixed session, Trump-Xi call, cautious sentiment 09:00 – India: Surprise 50bp rate cut, 7.4% GDP growth 09:40 – China: Demand drag, deflation risks, regional spillovers 10:30 – Wrap: Momentum holds — but all eyes on summer signals

Stocks climb, growth shrinks. On today’s Bullhorn: Wall Street rallies to three-month highs, even as U.S. factory orders slump and global forecasts are cut. We unpack the OECD’s revised outlook, China’s factory contraction, and who’s leading and lagging across London, Europe, and Asia.Tech, defence, and discount retail are up. Tariffs and uncertainty still loom.Intro: Markets rising despite growth headwindsWall Street: Nasdaq, S&P hit highs; Dollar General surgesU.S. Data: Factory orders fall, job openings reboundLondon: Miners, housebuilders slump; defence stocks shineGlobal Outlook: OECD cuts U.S., UK, and global growth forecastsEurope: Inflation falls, tariffs return, Gerresheimer sinksAsia: China’s factory slump, Hang Seng gains, Aussie stocks rallyCurrency & Commodities: Dollar firm, oil edges higherWrap: Markets up, but storm clouds building

London markets closed higher Thursday after stronger-than-expected UK GDP growth and a flurry of upbeat corporate earnings. The FTSE 100 rose 0.6%, with Hikma, Serco, and Watches of Switzerland among the top gainers. But oil majors BP and Shell slipped as crude prices dropped amid speculation over US-Iran diplomacy.In the US, mixed economic data and remarks from Fed Chair Powell on global volatility shaped investor sentiment. Retail sales rose modestly while producer prices unexpectedly fell. Meanwhile, Dick’s Sporting Goods confirmed a $2.4bn deal for Foot Locker, and Walmart’s CEO flagged new pricing pressures.CityCast PM gives you the City’s closing snapshot in under 10 minutes.⏱️ Timestamps:00:00 – Intro & FTSE 100 closes up 0.6%00:25 – UK GDP grows 0.7% in Q1, led by services and production00:55 – Corporate risers:• Hikma +7.4% on long-term growth targets• Watches of Switzerland +5.2% on strong sales• Serco +3.8% on £1bn Navy contracts• National Grid, Aviva also higher01:55 – Corporate fallers:• BP -3.9%, Shell -2% on oil weakness• Auction Technology -11.2% on weak March• Spectris, PageGroup down on ex-dividend trading02:40 – Wall Street update:• Powell says higher rates may be needed long-term• Jobless claims steady; manufacturing surveys mixed• PPI -0.5%, retail sales +0.1%03:45 – US stocks:• Dick’s confirms $2.4bn Foot Locker deal• Walmart CEO warns on price risks04:20 – Europe wrap:• Stoxx 600 +0.5%, DAX +0.7%, CAC +0.2%• Merck cuts outlook, Thyssenkrupp profits plunge• Siemens steady; eurozone industrial output +2.6%05:15 – GDP outlook: Eurozone +0.3% in Q1, may be short-lived05:40 – Wrap-up: Back after Wall Street close tonight

London stocks held modest gains by midday Thursday as upbeat UK GDP data bolstered sentiment. Growth reached 0.7% in Q1, with strength in services and production offsetting weakness in education and telecoms. JD Sports, Serco, National Grid, and Aviva advanced, while 3i Group, BP, and Shell came under pressure.Asian markets slipped as tech and property names sold off, though strong jobs data lifted Australia. China’s central bank moved to support the economy with fresh liquidity and rate cuts. Meanwhile, US futures pointed lower ahead of key inflation and retail sales data.CityCast Lunchbreak brings you a five-minute midday wrap from London’s financial district.⏱️ Timestamps:00:00 – Intro: FTSE up 0.1% by midday00:20 – UK GDP Q1: Grows 0.7%, driven by services (+0.7%) and production (+1.1%)00:55 – Movers:• JD Sports rises on Dick’s-Foot Locker deal reports• Serco wins £1bn Navy contracts• National Grid, Aviva upbeat• 3i Group disappoints• BP, Shell lower on crude weakness02:00 – Europe: Stoxx 600 flat, awaiting Powell; Thyssenkrupp, Merck fall02:35 – Asia markets:• Nikkei -0.98%, Shanghai -0.68%, Hang Seng -0.79%• JD.com, Longfor down sharply• ASX +0.22%, NZX +0.79% on strong jobs data• China cuts RRR, adds liquidity04:10 – Wall Street preview: Futures down ahead of PPI, retail sales, US-Iran headlines04:50 – Wrap-up: Back post-close with the day’s full recap

London opened flat on Thursday, but stronger-than-expected UK GDP growth in Q1 brought a brighter tone to the day’s economic headlines. Output rose 0.7%, well ahead of forecasts, driven by strength in services and production sectors. Meanwhile, Sage and National Grid posted upbeat earnings, and B&M named a new CEO.In global markets, Wall Street’s tech rally continued as Nvidia and Super Micro soared on Saudi AI deals. Asia traded mixed, with declines in Japan and Hong Kong but modest gains in Australia.Start your day with CityCast AM—your five-minute financial market primer.⏱️ Timestamps:00:00 – Intro & FTSE opens flat after Wednesday’s decline00:25 – UK GDP grows 0.7% in Q1, led by services and production01:05 – B&M names retail veteran Tjeerd Jegen as CEO01:25 – Sage H1 results: Revenues +9%, profits +16%, £200m buyback extension02:10 – National Grid EPS beats, £60bn investment plan, 6–8% annual EPS growth outlook02:55 – Asia-Pacific wrap:• Nikkei -1%• Hang Seng -1.1%• ASX +0.2%03:30 – Wall Street overnight:• Nasdaq +0.7%, S&P +0.1%, Dow down• Nvidia +4%, AMD gains on export rule rollback• Super Micro +16% on $20bn Saudi AI deal04:35 – Looking ahead: US jobless claims, PPI, and retail sales due today05:00 – Wrap-up: Back at lunch with London updates and Asia close

Wall Street closed mixed Wednesday as tech stocks extended gains on the back of lifted AI chip export restrictions. Nvidia, AMD, and Super Micro soared on news of major Saudi deals, while eToro made its Nasdaq debut and Boeing sealed a historic jet order with Qatar Airways. Meanwhile, US housing data remained solid, supporting broader economic optimism.In London, Burberry led the FTSE with a 17% rally following a bold restructuring plan, while Imperial Brands fell and Spirax slid on cautious guidance. We also look ahead to Thursday’s global economic data, including UK GDP, US retail sales, and eurozone employment.CityCast Late wraps the day’s financial headlines from New York to London and beyond.⏱️ Timestamps:00:00 – Intro & Wall Street close:• Dow -0.2%• S&P 500 +0.1%• Nasdaq +0.7%00:25 – Market sentiment: Bullish tone, but consolidation risk00:50 – US housing: Mortgage apps +1.1%, purchases up 2.3%, rates steady01:30 – Tech surge:• Nvidia +4.2%• AMD +4.7%• Super Micro +15.7% on $20bn AI deal02:15 – eToro IPO: Nasdaq debut closes up 0.97%02:40 – Boeing lands record Qatar Airways order for up to 210 jets03:10 – London recap:• FTSE 100 -0.21%, FTSE 250 +0.29%• Burberry +17%, Imperial Brands -7.27%, Mondi +3.2%, Spirax -6%04:05 – Europe:• Stoxx 600 ends lower• TUI -10%, Alstom -16% on cautious guidance04:45 – Asia market preview:• Nikkei expected down 494 pts• Hang Seng +3 pts, ASX -32 pts05:15 – Economic preview for Thursday:• UK GDP Q1, trade balance, production• Eurozone GDP & employment• US jobless claims, PPI, retail sales06:10 – Wrap-up: Back tomorrow with AM Citycast for the London open

London stocks closed mixed Wednesday, with Burberry rallying over 17% on restructuring plans despite a full-year loss. Imperial Brands and Spirax-Sarco tumbled after underwhelming updates, while the broader European market softened amid weaker German inflation and summer booking concerns at TUI.We also hear from BoE policymaker Catherine Mann, who warns of stubborn inflation despite this week’s rate cut. Plus: Wall Street tech stays strong as AI export curbs ease, Super Micro lands a $20bn Saudi deal, and JD.com sinks in US trading.CityCast PM gives you the City’s full market wrap in under 10 minutes.⏱️ Timestamps:00:00 – Intro & market wrap: FTSE 100 down 0.2%, FTSE 250 up 0.3%00:30 – Chris Beauchamp on US vs Europe market momentum, gold outlook01:10 – Catherine Mann: UK labour strength, inflation risks, dissent on rate cuts01:55 – Corporate winners:• Burberry +17.03% on restructuring news• Mondi, M&S, Hikma gain on upgrades02:45 – Corporate fallers:• Imperial Brands -7.27% on profit miss, CEO change• Spirax -6%, Compass -2.53%, Experian -2.86%, Persimmon lower post-sale03:40 – Europe: Stoxx 600 and DAX fall, Germany inflation slows to 2.1%04:30 – TUI -11% on bookings, Alstom -17.3% post-earnings04:55 – Wall Street: Nasdaq up 0.7%, Dow flat, S&P +0.2%05:20 – US housing: Mortgage apps rise, 30-year rate steady05:45 – US stocks:• Super Micro lands $20bn Saudi AI deal• Nvidia, AMD rise, JD.com drops06:20 – Wrap-up: Back after NY close with full global update

Markets in London held flat by midday Wednesday, as investors weighed corporate shakeups, inflation concerns, and fresh momentum in global tech and Asian stocks. Burberry surged despite reporting a loss, unveiling a bold turnaround strategy under new CEO Joshua Schulman. Meanwhile, Marks & Spencer rebounded, and gains in Asia pointed to improving sentiment.We also unpack the Bank of England’s cautious stance on interest rates, Imperial Brands’ profit miss and CEO exit, and strong earnings optimism in the Chinese tech space. Plus: how Nvidia and AMD’s $10bn Saudi data centre project is lifting the sector, and what India’s inflation print could mean for rates.CityCast Lunchbreak is your midday market digest from the Square Mile.⏱️ Timestamps:00:00 – Intro & FTSE midday: Flat at 8,603.7700:25 – BoE watch: Inflation still sticky, fewer rate cuts expected01:05 – Burberry surges on turnaround plan despite £66m loss01:55 – Movers:• M&S rebounds post-cyber attack• Mondi upgraded by JPMorgan• Hikma initiated positively• Imperial Brands dips on miss and CEO retirement• Spirax-Sarco down on tariff-linked uncertainty03:10 – Europe: Stoxx 600 and DAX edge lower03:30 – Asia:• Shanghai +0.86%, Hang Seng +2.3%• Chinese shipping, chemicals, tech surge• Tencent & Alibaba in focus ahead of earnings04:45 – Asia macro:• South Korea jobs improve• India inflation cools to 3.16% – June rate cut eyed05:30 – Wall Street preview: Futures cautious after Tuesday rally• Nvidia gains on export relief06:10 – Wrap-up: Back at close with full day recap

London markets opened lower Wednesday as investors reacted to Burberry’s sharp swing into loss and cautious trading in global equities. Meanwhile, GSK secured a $2bn deal to expand its liver disease treatment pipeline, and Imperial Brands posted steady profits despite falling revenue.We also cover Persimmon’s £100m broadband divestment, Compass Group’s slowing growth, and early signs of recovery at Marshalls. Plus: updates from Wall Street, where Nvidia and Boeing climbed on trade and AI optimism, while UnitedHealth plunged on CEO news.Start your day sharp with CityCast AM—your five-minute financial news briefing.⏱️ Timestamps:00:00 – Intro & FTSE open: Down 20 points00:20 – Burberry reports £66m loss, warns on global tariffs00:55 – GSK signs $2bn liver disease deal with Boston Pharmaceuticals01:35 – Imperial Brands: Revenue down, profit up, guidance steady02:15 – Persimmon sells FibreNest to BUUK for £100m02:45 – Marshalls: Revenue rises, landscaping decline slows03:10 – Compass Group: Shares fall on slower organic growth03:45 – Asia markets: Nikkei down, Hang Seng gains 2%04:00 – Wall Street recap: Nasdaq +1.6%, Dow slips• UnitedHealth -17.79%• Boeing +2.46%• Nvidia +5.63% on Saudi chip deal• Microsoft slightly down on job cuts05:20 – Wrap-up: Back at lunch with more market updates

Markets closed with mixed results Tuesday as softer-than-expected US inflation data sparked hopes for rate cuts later this year. The Nasdaq surged while the Dow dipped, and the dollar weakened broadly. Meanwhile, UnitedHealth shares plunged on leadership changes, Nvidia soared on a major chip deal, and Goldman Sachs raised its S&P 500 targets alongside fresh growth forecasts.We also cross to London, where the FTSE 250 advanced and attention turns to earnings from Compass and Burberry. Other movers include Entain, RS Group, Wickes, and Bytes Technology.CityCast Late wraps up the global market day from New York to London in just under 10 minutes.⏱️ Timestamps:00:00 – Intro: Wall Street closes mixed, Nasdaq leads00:30 – CPI breakdown: Headline 2.3%, core steady, food & airfares fall01:20 – Goldman Sachs outlook: GDP upgrade, 6,500 S&P 500 target02:10 – Fed expectations shift: First rate cut now seen in December02:40 – US corporate news:• UnitedHealth sinks 18% on guidance & CEO exit• Boeing +2.5% after China lifts aircraft delivery ban• Nvidia +5.6% on Saudi AI chip deal03:45 – London wrap: FTSE 100 flat, FTSE 250 up• Entain, RS Group, Wickes climb• DCC misses revenue forecasts• Bytes slips despite dividend news• Burberry up ahead of results05:15 – Earnings watch: Compass & Burberry preview06:15 – Broader Euro earnings ahead: ABN Amro, Daimler Truck, TUI & more07:00 – Sign-off: Back before the open with Wednesday's headlines

The FTSE 100 dipped while the FTSE 250 advanced in a mixed session Tuesday, as traders digested fresh labor market data, corporate shifts, and a further easing in US-China trade tensions. China’s surprise move to lower tariffs on US goods helped lift Wall Street, but signs of a cooling UK job market tempered sentiment at home.In this edition: UK unemployment hits 4.5%, retail sales bounce back, and sterling edges higher. We cover major movers including Entain, RS Group, DCC, and Wicks, while also unpacking Starling Bank’s regulatory setbacks. From the US: moderating CPI figures, Microsoft job cuts, and UnitedHealth shares plunge after a surprise CEO exit.CityCast PM brings you London’s end-of-day market summary in just under ten minutes.⏱️ Timestamps:00:00 – Intro & FTSE recap: FTSE 100 down, FTSE 250 up00:30 – Currencies: Sterling up vs USD, down vs EUR00:50 – China cuts US tariffs to 10%; Wall Street rallies01:30 – UK jobs data: Pay slows, unemployment at 4.5%02:10 – Retail sales surge 7% in April, Easter and weather cited02:45 – Goldman Sachs upgrades UK & US growth forecasts03:20 – Corporate updates:• Entain & RS Group upgraded• Wickes Group sales rise• DCC revenue lags expectations04:10 – Starling Bank under CMA scrutiny over survey data04:45 – Wall Street check-in: Nasdaq leads, Dow lags05:10 – US CPI: Headline 2.3%, core steady at 2.8%05:45 – Corporate news:• UnitedHealth down 14% on CEO exit• Microsoft cuts 3% of staff06:30 – Looking ahead: Earnings from Compass & Burberry

Markets held steady at midday, with the FTSE 100 up slightly despite lingering caution over US-China trade and signs of UK labour market weakness. While the 90-day tariff truce initially lifted sentiment, investors are now weighing the long-term impact, including persistently high duties and global demand headwinds.In this episode: the UK unemployment rate climbs to a post-2021 high, wage growth softens, and vacancies hit a three-year low. Marks & Spencer is hit by a cyberattack, Marston’s cheers investors with improved profits, and Revolution Beauty struggles to stay afloat. Plus, we check in on Asian markets, the Bank of Japan’s rate pause signals, and how Goldman Sachs is shifting its Fed outlook.CityCast Lunchbreak brings you London’s sharpest midday market update in just five minutes.⏱️ Timestamps:00:00 – Intro and FTSE midday snapshot: up 0.1%00:30 – US-China truce details: 90-day tariff pause, limited optimism01:15 – UK jobs report: Unemployment hits 4.5%, wage growth cools02:00 – Business reaction: Hiring costs rising, NI impact, payroll declines02:45 – Retail sales jump 7% in April on weather and Easter boost03:15 – Corporate headlines:• Marks & Spencer cyberattack• Marston’s interim results beat• Revolution Beauty revenue drops, debt talks ongoing04:00 – Asia markets: Japan rallies, Hong Kong falls, China upgraded04:40 – BOJ policy outlook: Possible pause if US slows05:10 – Currency and Wall Street preview:• Dollar weaker• US CPI ahead• Goldman pushes Fed cuts to December05:40 – Closing remarks: Back later with full market wrap

The FTSE 100 is expected to open 33 points lower after a strong start to the week, as investor appetite for risk moderates. Monday's rally—driven by US-China trade relief and strong gains in mining and tech stocks—is giving way to a more cautious tone.In today’s episode, we recap Monday’s standout performers, including Raspberry Pi and Standard Chartered, and look at what’s driving the pullback. Plus: why defensive sectors may catch a bid, and what’s next for commodities, gold, and sterling as global markets digest the truce terms.Get your daily five-minute City open preview with CityCast AM.⏱️ Timestamps:00:00 – Intro: Cautious tone to start Tuesday00:25 – FTSE 100 set to open down 33 points00:45 – Recap: Monday’s rally in mining, tech, Raspberry Pi, and banks01:45 – Sentiment shift: Truce priced in, focus turns to follow-through02:25 – Global reaction: Asian markets mixed, US futures flat03:10 – Sector watch: Defensive names and gold back in play04:10 – Today’s watchlist: Energy prices, UK data, and Fed speakers04:50 – Wrap-up: What to expect in the day ahead