FTSE 100 ends day higher on Lloyds boost

The FTSE 100 ended higher yesterday as a strong set of results from Lloyds helped the index shake off a bleak day for Sainsbury’s shares.

London’s top flight closed the day up 49.45 points, or 0.69%, at 7,228.62, also aided by optimism over ongoing trade tensions between the US and China.

Fiona Cincotta, analyst at City Index, said: “President (Donald) Trump seems for the time being to have softened his stance on the deadline for a deal on the Sino-US trade talks, infusing global markets with a light helping of optimism.”

The pound, meanwhile, was trading flat versus the US dollar at 1.306 at the London market close.

Against the euro, sterling was also flat at 1.150.

The British currency was once again slave to Brexit and political machinations, with three MPs quitting the Conservatives and signing up to the new Remain leaning Independent Group.

Heidi Allen, Anna Soubry and Sarah Wollaston joined eight Labour MPs in another twist ahead of March 29.

In Europe, Germany’s DAX was up 0.9% and France’s CAC 40 was up 0.68%.

A barrel of Brent crude was changing hand at 67 US dollars, an increase of 1%.

The biggest risers on the FTSE 100 were Wood Group up 29.8p at 542.8p, GVC up 34p at 649p, Kingfisher up 12.4p at 241.6p and Antofagasta up 45.4p at 935.4p.

The biggest fallers were FTSE 100 were Sainsbury’s down 53.4p at 234.5p, Morrisons down 12.8p at 227.25p, Hikma down 41.5p at 1,673.5p and London Stock Exchange down 95p at 4,508p.