MARKET REPORT

TOP shares in London climbed higher yesterday as the global mood improved, even as some of its biggest stocks suffered from lower oil prices.

The FTSE 100 was 22.86 points, or 0.32%, higher at 7,207.18.

David Madden, market analyst at CMC Markets UK, said: “European stock markets are largely higher on the day heading into the close. The absence of further trade tensions between the US and China has prompted the bout of buying.

“Yesterday, Beijing made it clear they won’t be striking back at the US in terms of tariffs, and some dealers are taking the view the US then has no need to ramp up tensions.

“The two sides are due to meet to discuss trade next month, and there is a feeling we are approaching September on an optimistic note.”

The French Cac was 0.56% higher while the German Dax gained 0.85%.

London stocks gained despite a slump in oil prices ahead of a hurricane near Florida that analysts thought could dampen demand. Oil shares account for some of the biggest stocks on the index.

was down 2.7p to 500.2p and “A” shares were 21p lower at 2,275.5p. Shell’s “B” shares were among the biggest fallers, dipping 23.5p to 2,265p.

Meanwhile sterling edged slightly lower against the dollar but pushed higher against the euro as it appeared optimistic on the back of opposition against Boris Johnson’s decision to prorogue parliament.

Connor Campbell, financial analyst at Spreadex, said: “Sterling appeared eager to end the week - and month - on a positive note, pinning its hopes on a no-deal Brexit being averted.”

The biggest risers on the FTSE 100 were

174p to 2,502p, up 57.4p to 1,108p, up 1-6.5p to 4,149.5p and

up 8.3p to 340p.

The biggest fallers on the FTSE 100 were down 3.9p to 196.1p, down 3.4p to 283.1p,

down 2,265p. up 19.5p to 1,878p and

(B) down 23.5p to