MARKET REPORT

THE FTSE 100 edged higher yesterday on renewed hopes of a US-China trade deal. London’s blue-chip index closed 39.67 points, or 0.55%, higher at 7,236.68.

was a notable player on the index during the day and closed up 5.9p to 247.5p.

The state-owned bank reported its second successive year in the black and announced a £1.6bn final dividend, resulting in a near£1bn windfall for the taxpayer. However, it also warned that its corporate clients are pausing investment due to Brexit, impacting income over the next two years. Mr Kipling cake firm

scrapped plans to sell off its Ambrosia custard brand, blaming the current business climate. The group put the unit up for sale last year as it came under pressure from activist investor Oasis. Shares closed down 0.45p to 36.75p.

tapped Morgan Stanley investment banker William Chalmers to be its next chief financial officer. He will join Lloyds in June after the retirement of George Culmer. Shares rose 1.04p to 58.44p.

Warehouse specialist unveiled plans to raise £450m with a share placing to bankroll its development pipeline. The move will allow it to take advantage of new opportunities as it benefits from the rise in demand from food delivery firms and online retailers. Shares fell 6.2p to 640p.

The biggest risers on the FTSE 100 were up 9p to 170p,

up 99p to 2,562p, up 6.3p to 224.2p and up 13.8p to 534p. The biggest fallers were

down 14.8p to 233.75p, down 7.1p to 225.5p, down 102p to 4,724p, and

down 23.5p to 1,680p.