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London pre-open: Stocks to edge down ahead of policy announcements, 'Mag 7' earnings
By Michele Maatouk
Date: Wednesday 29 Apr 2026
(Sharecast News) - London stocks were set to edge lower at the open on Wednesday as investors awaited a raft of central bank policy announcements and earnings from four of the 'Magnificent Seven' across the pond.
The FTSE 100 was called to open around 10 points lower.
Alphabet, Microsoft, Amazon and Meta Platforms are all due to release earnings, while the Federal Reserve is widely expected to keep the policy rate at 3.50-3.75%.
Rabobank said that Jerome Powell - whose term as chair ends on 15 May - could shed light on the FOMC's take on the economic data that have been released this month, how they reflect the impact of the war with Iran, and what this means for monetary policy.
"We still expect two rate cuts this year, one in September and one in December," it said. "Once Warsh becomes the new Chair, he will try to convince the Committee to make more than the single cut in their most recent projections," it said.
The Bank of Canada is also expected to hold rates, at 2.25%, when it makes its latest policy announcement later.
Rate decisions are due from the Bank of England and the European Central Bank on Thursday.
In corporate news, Panadol-owner Haleon reiterated full-year guidance despite a poor cold and flu season weighing on first-quarter sales.
The healthcare blue chip saw revenues edge up 0.1% in the three months to 31 March, or by 2.2% on an organic basis, to £2.86bn. Prices rose 2.4%, while volumes eased 0.2%, with the impact of the weaker-than-usual cold and flu season estimated at around 130 basis points.
However, looking to the full year and Haleon - which was spun out of GSK in 2022 - said it remained on track to deliver organic revenue growth of between 3% and 5%.
Luxury car maker Aston Martin held guidance as it narrowed first-quarter losses and said the Iran war had so far had not impacted earnings.
The company reported a loss before tax of £65.5m compared with £79.6m a year ago with total wholesale volumes down 1% to 939 vehicles. Revenue rose 16% to £270.4m.
Lloyds Banking Group reiterated its full-year guidance as it reported a 33% jump in first-quarter pre-tax profit to £2.0bn.
Underlying net interest income rose 8% on the year to £3.6bn. Lloyds said this reflects a higher banking net interest margin of 3.17%, up 14 basis points year-on-year.
Drugmaker AstraZeneca said it had delivered solid revenue growth and a series of positive late‑stage trial readouts in the first quarter, reinforcing the firm's confidence in meeting its 2030 ambitions.
AstraZeneca said total revenue roses 8% at constant exchange rates in the first quarter to $15.29bn, driven by double‑digit growth across its oncology and rare‑disease portfolios.
Product sales increased 7% to $14.39bn, while alliance revenue climbed 26% to $825m. Reported earnings per share came in 6% higher at $1.99, with core EPS up 5% to $2.58.
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