FTSE gains as trade tensions ease, earnings dominate

The FTSE 100 was up 0.1 per cent and the FTSE 250 was 0.3 per cent higher by 0721 GMT. — Reuters pic
The FTSE 100 was up 0.1 per cent and the FTSE 250 was 0.3 per cent higher by 0721 GMT. — Reuters pic

LONDON, May 15 — UK shares rose as risk sentiment picked up after comments from President Donald Trump playing down Washington’s trade war with Beijing, while a slew of earnings reports drove major share moves on both main indexes.

The FTSE 100 was up 0.1 per cent and the FTSE 250 was 0.3 per cent higher by 0721 GMT.

Trump yesterday described the conflict as “a little squabble” and said talks between the world’s two largest had not collapsed.

Asia-focused HSBC provided the biggest boost to the main index, up 0.6 per cent.



“A series of comments and tweets from the President has markets behaving a little more sensibly, but risks still seem skewed to the downside until there is clarity and a (trade) deal,” Markets.com analyst Neil Wilson said.

On an earnings-heavy day, tour operator TUI was the biggest blue-chip gainer. It rose 2.8 per cent after in-line half-year results, while warning that lack of clarity over the status of its grounded Boeing 737 MAX planes could hit profits.

The world’s biggest catering firm Compass Group added 2.4 per cent after hiking its annual organic forecast.

On the mid-cap index, lender CYBG recorded a steep rise after it swung to a first-half profit. Shares jumped 8.8 per cent and were on track for their best day in more than three months. — Reuters

Source: The Malay Mail Online





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