The FTSE roundup: Equity markets close up despite trade tensions

Home Markets The FTSE roundup: Equity markets close up despite trade tensions
The FTSE roundup: Equity markets close up despite trade tensions

The FTSE 100 closed up for the week despite worries about trade tensions between the EU, the US and China.

The FTSE 100 closed on 7,666, 0.6 percent higher than last week when it closed on 7,617.

Read more: Recruitment firm Hays fights off Brexit wobble with bumper growth

David Madden an analyst at CMC Markets described the mood in the equity markets as “cautiously optimistic as the trade standoff between the US and China continues”.

Tech company Micro Focus was the biggest riser today, closing up 4.67 per cent, a recovery form earlier in the week when its stock feel following a trading update.

Sales and marketing group DCC had a good day, with shares up 3.7 per cent after confirming its first quarter was in line with guidance and profit was up after its made two acquisitions valued at $100m (£75.6m).

Read more: Inmarsat shares soar more than 12 per cent after confirming takeover bid

Outside the FTSE 100 the recruiter Hays had a more than eight per cent share price bounce after announcing full-year profit would beat forecasts.

Satellite company Inmarsats share price was down nearly six per cent today after it rejected a takeover bid from US firm Echostar.

The pound fell against the dollar today after US President Donald Trumps negative comments about the likelihood of a UK-US trade deal, however it rallied this afternoon after Trump appeared to row back on those comments.

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