The Courier & Advertiser (Angus and Dundee)
Markets edge up after latest trade talks
The US and China finally kicked off their long-awaited latest round of trade talks yesterday and analysts watched on nervously for any signs of white smoke.
Discussions took place after markets in Europe had closed and most countries saw gentle rises as hopes of a decent outcome spread like a virus.
As a result, the FTSE 100 closed the day up slightly, rising 19.86 points – or 0.28% – to 7,186.36, although it traded down throughout the morning.
In Europe, the French CAC closed up 1.27% and the German DAX rose 0.58%.
The FTSE could have risen higher but was stunted by a strong pound rising 1.45% against the dollar at 1.2384, with traders feeling more confident that a Brexit extension or a deal is on the way.
The pound was also boosted by decent GDP figures suggesting the UK will avoid a recession.
Against the euro, the pound was up 10.2% at 1.1239.
A barrel of Brent Crude also saw a jump in price, with a barrel up 0.9% to 58.82 dollars, as Turkey’s military invasion of Syria unnerved investors over the impact on global supply.
The biggest risers on the FTSE 100 were Antofagasta, up 37p at 864p; Anglo American, up 73.6p at 1,923.6p; Lloyds, up 1.97p at 52.67p; BT Group, up 6.88 at 184.86; and Kingfisher, up 6.9p at 192.8p.
The biggest fallers were Barratt Developments, down 22.6p at 586.8p; Hargreaves Lansdown, down 49.5p at 1,767p; Fresnillo, down 15.2p at 654.2p; Just Eat, down 13.6p at 617.8p; and Centrica, down 1.38p at 66.62p.