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FTSE 100 FTSE:UKX FTSE Indices Index
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  +40.00 +0.58% 6,895.02 6,910.45 6,849.63 6,855.02 0 16:35:31

MARKET SNAPSHOT: FTSE 100 Rises On Trade Optimism

09/01/2019 11:17am

Dow Jones News

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By Emily Horton

London markets were up on Wednesday, as optimism around the continuing trade talks between China and the U.S. helped lift stocks.

The U.K.'s FTSE 100 is up 2.6% so far this year, easing investor worries that the falls seen in late 2018 could give way to a sustained period of market weakness..

British housebuilders were performing well in morning trading. Elsewhere, J Sainsbury PLC's (SBRY.LN) was the latest big U.K retailer to release its all-important Christmas sales figures. (ADP.FR)

How are the markets performing?

The U.K.'s FTSE 100 climbed by 0.8% to 6,914.85, after finishing up 0.7% on Tuesday. The British pound rose slightly to $1.2722 from $1.2716.

What is driving markets?

( Prime Minister Theresa May has warned politicians that it is delusional to believe a new European Union exit deal can be negotiated with Brussels if her proposed divorce strategy is voted down next week, Reuters reports (

Growing optimism around extended U.S./China trade talks has helped ease European investors' fears about a slowdown in the German economy ( President Donald Trump ( on Tuesday ( that the discussions with Beijing were "going very well."

Minutes from last month's Fed meeting, where the decision was made to raise interest rates, are due out at 2 p.m. in Washington.

What stocks are active?

British house builder Taylor Wimpey PLC (TW.LN) gained 5% on the back of its strong performance figures for 2018 (, while its industry peer Persimmon PLC (PSN.LN) rose 4%.

But Taylor Wimpey PLC's decision to flag "increasing customer caution" in London and the south east suggested could make it "difficult for the company to deliver on its strategy announced in May 2018," according to Russ Mould, investment director at AJ Bell.

Christmas sales results continue to pour in, with J Sainsbury PLC (SBRY.LN) adding just under 2% despite news its retail sales fell in the third quarter ( Richard Hunter, head of markets at Interactive Investor's, pointed to "the company's decision not to join the promotional party, especially around Black Friday" as a reason for the supermarket's struggling performance.

Ocado Group PLC (OCDO.LN) gained 4%, while Tesco PLC (TSCO.LN) and Wm. Morrison Supermarkets PLC (MRW.LN) both added 1%.

Telecommunications company Vodafone Group PLC (VOD.LN) lost almost 2% on Wednesday, while miner Fresnillo PLC (FRES.LN) dropped by around 1%.


(END) Dow Jones Newswires

January 09, 2019 06:02 ET (11:02 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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