FTSE up after Trump eases off on tariffs

London’s top flight recovered from a difficult start to finish the day strongly, tracking global markets higher on the back of the US delaying the introduction of tariffs on some Chinese goods.

The FTSE 100 rose 24.18 points to close at 7,250.9, as news from US buoyed the mood of traders around the globe.

Neil Wilson, chief market analyst at Markets. com, said: “The White House will delay some tariffs on China until 15 December, and has removed some items for its hitlist on health, safety and national security grounds. This has boosted sentiment – but can it last?”

In company news, holiday giant Tui reported a 46 per cent drop in underlying earnings after taking a hit from the grounding of Boeing’s 737 Max 8 aeroplane.

The group’s underlying earnings slumped to €100.9 million (£93.6m) in its third quarter after booking costs of €144m from the 737 Max woes. Shares closed 0.1 per cent lower at 810.2p.

Watches of Switzerland, the retailer led by Glasgow-born Brian Duffy, reported a strong sales performance for its first quarter as a listed company.

Total revenues came in at £209.4m, up 17.8 per cent on the previous year, driven by robust UK and US performances. Shares crept 0.4 per cent higher to 285p.

Fashion retailer Superdry has appointed interim chief financial officer Nick Gresham on a permanent basis. It comes in the wake of a boardroom shake-up, triggered by the return of founder Julian Dunkerton earlier this year. Shares gained 1.9 per cent to close at 415.8p.