LONDON MARKETS: FTSE 100 Struggles As Investors Watch Trade And Brexit Negotiations
09 February 2019 - 12:18AM
Dow Jones News
By Emily Horton
Global markets enter second day of selling
London markets remained in the red on Friday, a day after the
biggest one-day drop since late last year, with miners and oil
stocks under pressure.
Meanwhile, investors prepare themselves for next trade move
between U.S. and China.
How are markets performing?
FTSE 100 dipped 0.2% to 7,107.54, after finishing down 1.1% on
Thursday. For the week, the index is off 0.5%.
The pound firmed up from earlier losses, fetching $1.2960 from
$1.2953 late Thursday in New York.
What's driving the markets?
Trade deal jitters returned after President Donald Trump said
Thursday that he had no plans to meet with Chinese President Xi
Jinping before a March 1 trade-deal deadline. U.S. stocks were set
for a weaker session, after Thursday's losses, while selling was
also widespread in Asia.
The European Union has agreed to resume Brexit negotiations in
an attempt to break the political deadlock over Brexit, however EU
leaders have once again rejected Prime Minister Theresa May's
request to reopen the previously completed withdrawal
agreement.
Brexit Brief:U.K. banks fret over data exchanges in disorderly
split
(http://www.marketwatch.com/story/brexit-brief-uk-banks-fret-over-data-exchanges-in-disorderly-split-2019-02-08)
What shares were active?
Electricity holding company SSE PLC (SSE.LN)warned over profits
(http://www.marketwatch.com/investing/stock/sse) on Friday, and
shares fell 1%. George Salmon, equity analyst from Hargreaves
Lansdown said "SSE has delivered an impressive flow of dividends
for shareholders, but the fact it hasn't always covered the payout
with its earnings or cash flows means there have been lingering
doubts over its future for some time."
Housebuilders were among the top movers in the FTSE 100, with
Barratt Developments PLC (BDEV.LN), Persimmon PLC (PSN.LN) and
Berkeley Group Holdings PLC (BKG.LN) all adding over 1%.
Weighing on the downside as oil prices fell, BP PLC (BP.LN)
(BP.LN) fell 0.7% and Royal Dutch Shell Group PLC (RDSA.LN)
(RDSA.LN) eased 0.3%. On the mining side, shares of Anglo American
PLC (AAL.LN).
(END) Dow Jones Newswires
February 08, 2019 08:03 ET (13:03 GMT)
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