FTSE gains as record US bull run imminent

Wall Street was yesterday set to secure its longest bull run in history at 3,453 days without a fall of 20 per cent or more, having risen out of the embers of the global financial crisis, and some debate over how long it can continue.

Markets in Europe were, however, showing a mixed performance as an upcoming meeting between the US and both China and the EU continued to affect stock movements, particularly for car manufacturers.

By the close, the FTSE 100 was up 8.54 points to 7,574.24, while the Cac in France rose 0.25 per cent and the Dax in Germany was flat.

David Madden, market analyst at CMC Markets, said: “European car makers are lower after Mr Trump threatened to impose a 25 per cent tariff on EU cars that are imported into the US.

“The announcement from the US president last night is a reminder to the markets as to how unpredictably he can behave.”

In a quiet day for the corporate calendar, Capita said it had recruited Go-ahead’s Patrick Butcher as its new finance chief to help the outsourcer with a radical transformation strategy. Shares rose 1.2 per cent during trading to 144.6p.

Debenhams’ shares rose 0.8 per cent to 13.47p after it announced the appointment of former Domino’s Pizza executive Rachel Osborne as its new finance chief as the troubled retailer attempts to turn itself around.

The biggest risers on the FTSE 100 included

Ocado Group, up 1.9 per cent to 1,100p, and

Fresnillo, up 1.8 per cent to 946.8p.

The biggest fallers included NMC Health, down 3.7 per cent to 3,908p, and Easyjet, down 3.6 per cent to 1,554.5p .