NMC Health helps FTSE 100 jump higher

The FTSE 100 pushed higher on the back of strong showings by consumer and healthcare firms, including a surge in value by NMC Health.

London’s top flight closed 41.11 points higher at 7,623.59 at the end of trading yesterday.

The other major European markets were mixed, with minor losses or gains on a day of low volatility, despite news that China will lower tariffs on more than 850 US products.

David Madden, market analyst at CMC Markets UK, said it was “almost as if traders are indifferent to the positive US-China news”.

The German Dax decreased by 0.12% while the French Cac moved 0.18% higher.

Across the Atlantic, the Dow Jones lifted higher at the start of trading as sentiment was buoyed by the improving tariff scenario, while traders shrugged off a poor durable goods report.

Sterling slid lower as its post-election slump continued. Fears over a no-deal Brexit have weighed on the currency since Boris Johnson secured a majority, although it remains significantly above its value from just three months ago.

The value of the pound decreased 0.66% versus the US dollar at 1.292 and dipped 0.81% against the euro at 1.165.

In company news, hospital operator NMC Health announced the launch of an independent review into its accounts.

The UAE-focused firm had seen its share price slump heavily over the past week after US short-seller Muddy Waters publicly criticised its financials.

Investors cheered news of its third party review, sending shares 479p higher to 1,779.5p at the close of play.