FTSE 100 watch: US-China trade optimism lifts Footsie

Barclays and Sage shares outperform amid boardroom changes

FTSE 100 watch: US-China trade optimism lifts Footsie

The UK benchmark index has climbed higher this Friday, finding support in optimism over the US-China trade relations. The Sage Group (LON:SGE) and Barclays (LON:BARC) meanwhile are outperforming the FTSE 100 with investors reacting positively to top management changes at both companies.

FTSE 100 climbs higher

As of 12:42 GMT, the Footsie had added 43.77 points to stand 0.62 percent higher at 7,158.43. Sentiment has been upbeat in today’s session after US President Donald Trump tweeted that he had “had a long and very good conversation” with Chinese President Xi Jinping on trade.

“A potential breakthrough would obviously be welcome news for investors and financial markets globally, because the threat of a trade war conflict has been viewed generally as probably the largest risk to the world economy since the global financial crisis a decade ago,” said Jameel Ahmad, global head of currency strategy at FXTM, as quoted by Proactive Investors. “Of course everyone would hope that we can continue to progress from trade tensions, but there is an air of caution that should still be used.”

Individual Footsie movers

In individual stock news, Barclays shares have been in demand as the blue-chip lender announced that it had appointed Nigel Higgins, deputy chairman of Rothschild & Co, to succeed its chairman John McFarlane, who is due to step down next year. The group’s shares are 1.40 percent better off at 178.00p.

The Sage Group meanwhile has rallied as it appointed its finance chief and interim chief operating officer as its new chief executive. The software firm’s shares are changing hands 3.42 percent higher at 568.80p.

The FTSE 100 index 0.69 percent up at 7,163.79 points as of 12:50 GMT on Friday, 02 November 2018.

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