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.
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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.
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