FTSE 100 Up Slightly As Investors Await Further News On Trade, U.S. Inflation Data
(RTTNews) - U.K.'s benchmark index FTSE 100 is roughly flat a little over an hour past noon on Wednesday with investors making cautious moves, reacting to news about U.S.-China trade talks, and some corporate updates, while awaiting the crucial inflation data from the U.S.
After two days of discussions in London to arrive at a mutually agreeable framework that will help ease trade tensions, top U.S. and Chinese officials reached a framework to implement the Geneva consensus.
If approved, the Sino-U.S. deal will remove some restrictions on China's rare earth exports and unwind a few recent U.S. export bans.
The FTSE 100, which advanced to 8,885.57 earlier, was up 5.25 points or 0.06% at 8,858.33 a little while ago.
British homebuilder shares are up ahead of a public spending announcement from the U.K. finance minister.
BT Group and Prudential are up 2.2% and 2.1%, respectively. Barratt Redrow, Standard Chartered, Babcock International, Rolls-Royce Holdings, Weir Group, Berkeley Group Holdings, Glencore, Taylor Wimpey and Coca-Cola HBC are gaining 1 to 2%.
Ricardo Plc shares are up nearly 27% after the engineering group agreed to a £281 million takeover by Canadian consultancy WSP Global.
Melrose Industries is down more than 2%. Marks & Spencer is down 1.8%, while 3i Group, Antofagasta, St. James's Place, Rentokil Initial, JD Sports Fashion, Unite Group, Schroders and Legal & General are lower by 0.9 to 1.6%.
Ibstock Plc shares are plunging nearly 14%. The building materials manufacturer has warned of margins pressure despite reporting higher first-half sales.
South Korea Shares May Be Stuck In Neutral On Monday
Singapore Export Data On Tap For Monday
Euro Higher Against Majors
TSX Down Marginally In Lackluster Trade
Swiss Market Ends On Firm Note
European Stocks Close Mixed After Cautious Session
U.S. Business Inventories Rise In Line With Estimates In June
