FTSE 100 down as US-China trade talks stall once again
The blue-chip index fell as much 0.5% on Thursday, with the slide driven by US-China trade talks stalling and ex-dividend markdowns from several major UK stocks.
The FTSE 100 fell more than 35 points on Thursday after US-China trade talks stalled, as officials in Washington and Beijing struggle to reach an agreement on phasing out some tariffs.
Overall, the prospect of the US-China trade war cooling has helped global stocks, but with US President Donald Trump threatening further tariffs if a deal is not done soon investors remain cautiously optimistic.
Burberry share surge stops Footsie falling further
Luxury fashion brand Burberry saw its shares climb 7% higher on Thursday after delivering a strong set of half-year results.
The luxury retailer owes its strong quarterly sales to designer Riccardo Tisci’s new collections which have garnered significant interest and helped offset declines in Hong Kong amid ongoing protests.
‘We are pleased with our performance in the half, as we remain on track to deliver the first phase of our strategy,’ Burberry CEO Marco Gobbetti said.
‘New product now represents a high proportion of our assortment and the customer response has been positive delivering strong double-digit growth.’
Ex-dividend markdowns weigh on FTSE 100
The blue-chip index was helped in its march lower this morning by ex-dividend markdowns from distribution and outsourcing company Bunzl, drug maker GlaxoSmithKline, oil and gas major Royal Dutch Shell, and British supermarket chain Sainsbury.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get commission from just 0.08% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets