London pre-open: Stocks to nudge lower in shortened pre-Christmas session

(Sharecast News) - London stocks were set to nudge lower at the open on Wednesday on what will be a shortened trading session ahead of the Christmas break, as investors continued to mull the latest US GDP figures.

The FTSE 100 was called to open around five points lower.

Axel Rudolph senior technical analyst at IG, said: "Delayed US economic data painted a mixed but resilient picture, with GDP growth accelerating to a two-year high of 4.3% annualised in Q3 2025, well above expectations, supported by strong consumer spending, exports and government outlays.

"Solid job gains and a sharp rise in corporate profits reinforced the view that the Fed will hold rates steady in January and may delay further cuts, although weaker durable goods orders highlighted emerging pockets of softness in manufacturing."

In corporate news, BP confirmed the sale of a majority stake in its Castrol lubricants division to US infrastructure group Stonepeak in a deal that values the business at about $10bn including debt.

The energy giant is looking to make $20bn in divestments by 2027 in response to pressure from activist hedge fund Elliott Management, which wants the company to cut costs and lower debt. It started the sale process for Castrol in February.

Real estate investment trust Supermarket Income REIT said it has acquired three UK supermarkets for a total purchase price of £97.6m, at an average net initial yield of 5.5%.

The FTSE 250-listed group said the acquisitions, which were funded by its existing debt facility, were made up of well-established stores with long trading histories, and were carefully selected to align with its core business strategy and drive further earnings accretion.