Investing.com – British stocks opened flat on Monday as global investors are looking ahead to U.S.-China trade talks expected to take place in London today.
As of 0710 GMT, the blue-chip index FTSE 100 rose 0.06% and the British pound gained 0.3% against the dollar to over 1.35.
Meanwhile, DAX index in Germany fell 0.4%, the CAC 40 in France dropped 0.05%.
Latest on U.S.-China trade talks
Senior officials from U.S. and China are set to meet in London later today, following a phone call between Chinese President Xi Jinping and U.S. President Donald Trump less than a week ago.
On Friday, Trump had named Treasury Secretary Scott Bessent to head the U.S. delegation.
China’s foreign ministry also confirmed Monday that it will also take part in the high-level trade discussions.
Reeves set to meet Chinese Vice Premier
U.K. Finance Minister Rachel Reeves is reportedly scheduled to meet with Chinese Vice Premier He Lifeng during his visit to Britain this week.
The meeting is part of broader trade discussions that will also involve senior U.S. officials, according to a British government source cited by Reuters.
Qualcomm to acquire Alphawave in $2.4 bln deal
Qualcomm Incorporated (NASDAQ:QCOM) has announced plans to acquire U.K.-based semiconductor firm Alphawave IP Group (LON:IPO) PLC (LON:AWE) for approximately $2.4 billion, representing a 96% premium, as part of its strategy to enhance its AI and data center connectivity offerings.
Under the deal, Alphawave shareholders will receive $2.48 per share in cash, or roughly 183 pence based on current exchange rates.
WPP (LON:WPP) CEO to retire
Mark Read, CEO of WPP Group, plans to retire by year-end after more than 30 years with the company, including seven as chief executive, according to an announcement on Monday.
WPP has begun the search for his successor.
(This story will be updated)
