FTSE 100 watch: Trade hopes and corporate results lift Footsie

Taylor Wimpey share price underperforms after group’s trading statement

FTSE 100 watch: Trade hopes and corporate results lift Footsie

The UK benchmark index has climbed higher in today’s session, finding support in optimism over the trade relations between the US and China. Heavyweight Vodafone (LON:VOD) is also lending support to the FTSE 100 after updating investors on its half-year performance.

FTSE 100 trades higher

As of 12:32 GMT, the Footsie had added 17.10 points to stand 0.24 percent higher at 7,070.18. Sentiment has been positive today amid hopes for progress in the US-China trade relations as the South China Morning Post reported that Beijing’s top trade negotiator Liu He may visit Washington.

Investors have shrugged off a downbeat lead from the US, where tech shares were hit by a slide in Apple.

Individual movers

Vodafone is also lending support to the Footsie, even as it reported a loss for the first half of its financial year. The telecoms group, however, lifted its free cash flow outlook and left its payout to shareholders unchanged. Vodafone’s shares are 7.69 percent higher at 155.46p.

Experian (LON:EXPN) meanwhile is 5.63 percent higher at 1,894.00p after the company flagged organic revenue growth at the top end of its guidance range. Taylor Wimpey (LON:TW), however, is underperforming the market after posting its trading update.

“Trading through the second half has been strong with sales rates around eight percent ahead of the prior year. However, operating from a lower number of sites combined with a more cautious outlook for next year sees us trim our full-year 2019 volume expectations,” Peel Hunt analysts said in a note, as quoted by Reuters. Taylor Wimpey’s share price is 0.52 percent down at 162.25p.

The FTSE 100 was 0.11 percent up at 7,060.81 points as of 12:56 GMT on Tuesday, 13 November 2018.

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