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(Sharecast News) - London stocks were set to rise at the open on Wednesday as investors eyed flash PMIs for the UK and eurozone and mulled news that US and Iranian officials have heled their first talks in months, through mediators, on the sidelines of the UN Summit.
The FTSE 100 was called to open around 32 points higher.
US President Trump said on Tuesday that Iranian officials held "very good" three-hour talks with US special envoy Steve Witkoff on the sidelines of the assembly and that there would be another meeting in the "very near future".
In his comments to the general assembly, Trump also said he was faced with a choice of making a deal with Iran that would let the country rebuild, or "annihilate" it if no deal is reached. "Do I drive them into hell with no chance of survival and no hope of future greatness or generations?" he said.
"There are two options; one could be a very bad thing, and the other could lead to greatness and progress for this country. Therefore, I think they want to do this."
In corporate news, JD Sports Fashion posted a slide in half-year earnings as it warned that the tough conditions seen in the first half were set to continue.
The retailer posted a 0.7% decline in sales to £5.9bn in the 26 weeks to 1 August, with like-for-like sale down 2.8%. Operating profits were 20.5% lower at £294m.
The group called it a "resilient performance" amid a challenging backdrop, including cost-of-living pressures, footwear product cycle headwinds and widespread promotional activity.
But it acknowledged that a number of these conditions were likely to persist into the second half.
Specialist engineer Renishaw posted a 27% rise in annual profit driven by accelerating demand in several markets, including the semiconductor and aerospace and defence sectors.
Pre-tax profit for the 12 months to 30 June came in at £150m, while revenue rose 14% to £816m. Renishaw said the current year had started strongly on increased demand for semiconductor manufacturing equipment.
Drinks business Diageo said that Joanne Wilson will join the group as chief financial officer in 2027, succeeding Nik Jhangiani.
Wilson, who currently serves as CFO of WPP, has previously held senior financial and commercial roles at Britvic, datascience firm dunnhumby, Tesco and KPMG.