London's FTSE 100 rose to a more than five-month high on Friday as China's economic growth met expectations and the pound slid after weak British retail sales raised the prospect of an imminent interest rate cut by the Bank of England.
Underwhelming trading updates from Pearson and Whitbread broke a three-day winning run for London's main index on Thursday, while investors exercised caution amid a lack of clarity on some elements of the U.S.-China trade deal.
London's main share index rose slightly on Wednesday, hours before the sealing of an initial U.S.-China trade deal, though sentiment was tempered when Washington said tariffs on Chinese goods would not be rolled back immediately.
London's main index ended a choppy Tuesday session with slight gains, as investors looked towards the signing of the Phase 1 U.S.-China trade deal, while betting firms lost ground after Britain banned consumers from using credit cards to gamble.
London's main stock index gained on Monday, in step with global peers, as investors took heart from the imminent signing of a Phase 1 U.S.-China trade deal, while hopes of further interest rate cuts by the Bank of England helped the midcaps outperform.
Jan 13 London's main index gained on Monday, in
step with global peers, as investors took heart from the
imminent signing of a Phase 1 U.S.-China trade deal, while hopes
of further interest rate cuts by the Bank of England helped the
British bluechips shed early gains on Friday as a slide in banks overshadowed a rise in airlines amid fears of a rate cut.
London's main share index advanced on Thursday as chances of a full-blown crisis in the Middle East waned, but mid-caps lagged as SIG and Marks and Spencer fell after warning of lower annual results.
London's main index recouped almost all its earlier losses on Wednesday as markets hoped flaring tensions between the United States and Iran would not escalate further, while midcaps slipped as worries of a hard Brexit resurfaced.
Aston Martin warned its 2019 profits would almost halve due to weak European markets, sending its shares sharply lower as rivals Bentley and Rolls-Royce powered ahead. | Video