FTSE nudges higher as fears shake traders

Optimism over the easing of lockdowns across the globe faded yesterday as traders were left cautious over the potential for a second coronavirus peak.

However, the London markets nudged higher as multinational firms were bolstered by weakness in the value of the pound.

The FTSE 100 closed 3.75 points higher at 5,939.73p at the end of trading yesterday.

The index lifted slightly after the prime minister provided more detail over his “road map” for phasing out the coronavirus lockdown, despite worries that the message had caused confusion.

The major European markets slipped into the red amid concerns that a second wave of infection could particularly hamper economies.

The German Dax decreased by 0.73%, while the French Cac moved 1.31% lower.

Across the Atlantic, the Dow Jones opened lower.

Meanwhile, sterling slipped as traders continued to predict that it will be months before the UK begins to properly reopen its economy.

The value of the pound fell 0.58% versus the US dollar at 1.232 and was down 0.4% against the euro at 1.14.

The price of a barrel of Brent crude oil decreased 3.31% to 29.82 US dollars.

The biggest risers on the FTSE 100 were Hargreaves Lansdown, up 80p at 1,585p, Auto Trader, up 17.1p at 496.9p, Reckitt Benckiser, up 198p at 6,846p, and Ocado, up 50.5p at 1,914.5p. The biggest fallers of the day were Centrica, down 3.52p at 36.39p, Evraz, down 16.7p at 253.3p, EasyJet, down 31.4p at 500p, and Informa, down 23.4p at 430.9p.