FTSE 100 Live: UK blue-chips off to positive start as Asian markets rally on easing trade tensions

• FTSE 100 up 50 points at 9,404
• B&M slumps after earnings alert

8.40am: B&M tumbles on fresh profit warning and CFO exit

B&M shares sank 15% at the open after the discount chain cut its full-year earnings guidance and revealed its finance chief is leaving, the latest stumble in a bruising year for the retailer.

The group uncovered about £7m of overseas freight costs that hadn’t been properly logged following a system update, prompting a downgrade to expected adjusted EBITDA of £470m–£520m, from £510m–£560m.

The accounting slip adds to a string of operational headaches that have seen B&M’s stock slump 48% so far this year, as margins come under pressure and growth slows in its core UK business.

CFO Mike Schmidt will step down once a successor is found, and the board has commissioned an independent review into the error.

The shares have been struggling to regain investor confidence, and today’s setback will do little to convince the market that the worst is behind it.

8.10am: London tinged with green

The FTSE 100 opened 42 points higher, at 9,396.3 on Monday, lifted by a brighter mood across global markets after Donald Trump softened his stance on China, easing fears of another flare-up in trade tensions.

Asian stocks rose strongly ahead of the London open, helped by Trump’s weekend remarks that a planned meeting with China’s Xi Jinping would go ahead and that his threat of 100% tariffs was “not sustainable”.

The two sides also agreed to hold further talks “as soon as possible”, according to Chinese state media.

Tokyo led regional gains, jumping 3.4% to a record high after Japan’s ruling party struck a coalition deal paving the way for Sanae Takaichi to become the country’s first woman prime minister.

Hong Kong climbed than 2.5%, Shanghai advanced, and Seoul, Wellington and Taipei also gained ground.

Investors were further encouraged by stronger-than-expected Chinese GDP data and Friday’s rebound on Wall Street, where US bank shares recovered from heavy losses a day earlier.

The combination set a positive tone for London’s open, with traders eyeing a calmer week after recent volatility.