Footsie gains despite trade war concerns

London’s blue chip market managed to recover some of its losses from Wednesday as the Us-china trade war failed to spook the markets, although oil prices suffered as a result of ramped up rhetoric.

The FTSE 100 closed up 32.86 points at 7,218.16 and David Madden, market analyst at CMC Markets UK, said: “Stock markets are largely higher, but the move feels hollow as political and eco - nomic relations are still strained. Today is the sunshine after the rain, but the dark clouds are unlikely to be gone for good.”

Shares in Aberdeen-based transpor t giant Firstgroup rose 4p to 114.4p after it said it will sell off its US Greyhound coach business and spin off its UK bus arm amid pressure from an activist investor to break up the firm.

The owner of the Daily Mail saw its shares surge after it said revenues for the full year could be higher than previously expected. Daily Mail and General Trust (DMGT) saw pre-tax profits slump by 55 per cent to £50 million for the six months to the end of March, but it was due to a £72m reduction in the share of profits from joint ventures and associates. Shares closed up 65p at 740p.

Watches of Switzerland completed its first day of conditional trading on the London stock market as shares surged higher after being priced at the top end of their range. Shares closed at 308.7p.

Premier Foods chairman Keith Hamill has quit the group, following its chief executive out of the door after a bitter battle with boardroom activists.

Shares closed up 0.3p at 35.5p.