FTSE 100 watch: Footsie steady as trade worries ease

Whitbread share price outperforms market as Barclays lifts stance

FTSE 100 watch: Footsie steady as trade worries ease

The UK benchmark index has climbed higher in today’s session, amid easing concerns over the trade tensions between the US and China. In individual FTSE 100 movers, Whitbread (LON:WTB) is outperforming the market following upbeat comments and a rating hike at Barclays.

FTSE 100 in positive territory

As of 13:17 BST, the Footsie had added 18.94 points to stand 0.26 percent higher at 7,300.51. Sentiment has been upbeat today with investors mulling over prospects for trade talks between the US and China.

“Traders (are) hopeful about US-China trade talks despite President Trump being the fly in the ointment, downplaying prospects for quick negotiations,” Accendo Markets analyst Mike van Dulken said, as quoted by Reuters. The US President said yesterday that the country was under no pressure to make a trade deal with Beijing.

Individual blue-chip movers

Whitbread has been one of today’s most prominent Footsie risers after analysts at Barclays lifted their rating on the stock to ‘overweight’ following the group’s move to  to sell its Costa Coffee chain. Proactive Investors quoted the broker as saying that the deal underpinned Premier Inn’s equity story.

”We see Premier Inn as a strong format with potential to become a structural winner and to further improve execution with no Costa distraction,” Barclays explained. Whitbread’s share price is currently 0.91 percent up at 4,681.00p.

Shire (LON:SHP) has been another notable riser after Takeda Pharmaceutical said that China had cleared the group’s takeover of the London-listed rare disease specialist. The group’s shares are changing hands 2.45 percent higher at 4,497.50p.

The FTSE 100 was 0.21 percent up at 7,297.16 points as of 13:36 BST on Friday, 14 September 2018.

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