FTSE 100 lifts despite May’s announcement

The FTSE 100 closed higher yesterday despite Theresa May’s resignation announcement, as an uplift in US-China trade relations dominated sentiment.

London’s leading index closed up 46.69 points at 7,277.73 points.

The pound did not see the sharp slide some might have expected, with traders already prepared for the prime minister’s announcement.

The pound rose 0.43% to 1.270 versus the US dollar and increased 0.21% to 1.134 versus the euro.

The German Dax rose by 0.49% and the French CAC jumped by 0.67%.

The price of oil calmed down in the wake of Thursday’s severe sell-off, but still slipped marginally as trade tensions remained.

The price of a barrel of Brent crude oil fell by 0.2% to 67.9 US dollars.

The biggest risers on the FTSE 100 were Evraz, up 20p at 606.6p, Antofagasta, up 22.4p at 802p, Hiscox, up 45p at 1,654p, and Auto Trader Group, up 16.2p at 597.4p.

The biggest fallers were IAG, down 10.4p at 468.4p, Paddy Power Betfair, down 106p at 5,676p, ITV, down 1.3p at 108.05p, and BT Group, down 2.3p at 196.3p.