LONDON MARKETS: FTSE 100 Climbs As Global Equities Rise; Investors Digest Britain's Brexit Extension Request
15 Mars 2019 - 3:21PM
Dow Jones News
By Emily Horton
London markets climbed on Friday, rising as global stock markets
climbed on trade hopes, while investors also digested this week's
third major vote from U.K. parliament on Brexit.
How are markets performing?
The U.K.'s FTSE 100 climbed 0.7% to 7,238.27, after finishing up
0.4% the previous day.
Meanwhile, the British pound climbed to $1.3265 from $1.3242
late in New York on Thursday, continuing the week's gains.
What's driving the markets?
After turbulent week in U.K. parliament, Thursday night saw MPs
vote to extend Article 50 for a short period until June 30. The
decision marks end of a intense three days, which during Prime
Minister Theresa May's revised withdrawal agreement was rejected
for the second time and MPs voted to rule out to leaving the EU
with no deal.
Chinese lawmakers on Friday approved a new law against the
forced transfer of technology by foreign companies
(http://www.marketwatch.com/story/china-approves-law-against-forced-tech-transfers-to-appease-us-2019-03-14)
-- a big complaint by the U.S. and other countries. But it remains
unclear if the move will be enough to smooth the path to a trade
deal.
Meanwhile, U.S. president Donald Trump has threaten the E.U.
with "pretty severe" economic pain if Brussels does not engage in
trade talks with Washington, the Financial Times reported
(https://www.ft.com/content/ce0cc7ea-4678-11e9-a965-23d669740bfb?emailId=5c8aeeb0cc534f000485fbec&segmentId=22011ee7-896a-8c4c-22a0-7603348b7f22&fbclid=IwAR1CzZL7FcWbK-zg0lhDEdmqN_dJxjSqfG3rwdmOfUHW2GEeyjZzJ0Ke2KE).
What stocks are active?
Providing support for the main index, British American Tobacco
PLC (BATS.LN) climbed nearly 2%, Prudential PLC (PRU.LN) gained
over 2%.
U.K. Oil & Gas PLC (UKOG.LN) fell 2% after the announced its
loss for 2018 widened more than seven times
(http://www.marketwatch.com/story/uk-oil-gas-loss-widens-on-exploration-write-offs-2019-03-15)
after booking an impairment on exploration write-offs.
(END) Dow Jones Newswires
March 15, 2019 10:06 ET (14:06 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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