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Name | Symbol | Market | Type |
---|---|---|---|
FTSE 100 Index | FTSE:UKX | FTSE Indices | Index |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
50.91 | 0.63% | 8,172.15 | 8,178.76 | 8,119.85 | 8,121.24 | 0 | 16:35:29 |
By Emily Horton
Housebuilders, miners in the lead
London markets rallied Friday, joining a push higher for global equities after a report the U.S. government may ease up on China tariffs.
Investors shrugged off the U.K. government's political deadlock over Prime Minister Theresa May's Brexit plan B. (http://www.marketwatch.com/story/ryanair-cuts-2019-profit-view-on-low-winter-fares-2019-01-18)
How are the markets trading?
The FTSE 100 Index rose by 1.7% to 6,953.72 on Friday, after finishing down 0.4% on Thursday, meaning despite this rise the index has traded down four out of five days this week. The index is poised for a gain of under 1% for the week.
The British pound was under pressure, dropping to $1.2930 from $1.2986 late in New York on Thursday.
What is driving the markets?
U.S. officials are debating pulling back tariffs on Chinese imports as a way to calm markets (http://www.marketwatch.com/story/us-mulls-easing-tariffs-against-china-in-order-to-calm-markets-pave-way-for-deal-2019-01-17) and give Beijing an incentive to make deeper concessions in a trade war that has rattled global economies.
(http://www.marketwatch.com/story/us-mulls-easing-tariffs-against-china-in-order-to-calm-markets-pave-way-for-deal-2019-01-17)In the U.K., lawmakers have come to a political deadlock over the Brexit Plan B agreement, as Prime Minister Theresa and leader of the opposition Jeremy Corbyn entered a gridlock over their competing visions for Britain to leave the European Union on Thursday, Reuters reported (https://uk.reuters.com/article/uk-britain-eu/uk-in-deadlock-over-brexit-plan-b-as-may-and-corbyn-tussle-idUKKCN1PB0M6).
Meanwhile, Britain's top civil servant, Sir Mark Sedwill, has told U.K. government departments to ready themselves for a general election (http://www.marketwatch.com/story/brexit-brief-general-election-talk-grows-louder-in-westminster-2019-01-18).
In Germany, Chancellor Angela Merkel's protégé, Annegret Kramp-Karrenbaue, has pleaded with Britain to remain in the European Union, Reuters also reported (https://uk.reuters.com/article/uk-britain-eu-germany-letter/we-will-miss-you-germany-pleads-with-the-british-to-stay-in-eu-idUKKCN1PC0P9).
What stocks are active?
EasyJet PLC (EZJ.LN) struggled, but stayed in the black after Irish airline Ryanair Holdings PLC lowered its full profit guidance (http://www.marketwatch.com/story/ryanair-cuts-2019-profit-view-on-low-winter-fares-2019-01-18)on Friday. International Consolidated Airlines Group S.A (IAG.LN) added 0.8%.
Exclusive: Fast-fashion giant Primark has explored a major e-commerce sales push (http://www.marketwatch.com/story/exclusive-fast-fashion-giant-primark-has-explored-a-major-e-commerce-sales-push-2019-01-17)
Heavyweight miner Rio Tinto's (RIO.LN)forecast for higher exports (http://www.marketwatch.com/story/rio-tinto-sees-further-rise-in-exports-this-year-2019-01-18) led to a 1.4% in shares and pushed up other miners. Antofagasta PLC (ANTO.LN) rose by 2.8% and Glencore PLC (GLEN.LN) jumped by 3%.
British house builders were up, with Barratt Development PLC (BDEV.LN) and Persimmon PLC(PSN.LN) both gaining around 4%.
(END) Dow Jones Newswires
January 18, 2019 09:12 ET (14:12 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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