FTSE 100 watch: Footsie rallies despite Brexit deal uncertainty

FTSE 100 watch: Footsie rallies despite Brexit deal uncertainty
Written by:
Alice Young
11th December 2018
Updated: 11th March 2020

The FTSE 100 has jumped this Tuesday, despite Brexit-related uncertainty after Prime Minister Theresa May called off a parliamentary vote on her deal with the EU. Anglo American (LON:AAL) meanwhile is leading other blue-chip miners higher after updating investors on its outlook.

FTSE 100 rallies

As of 12:21 GMT, the Footsie had added 102.27 points to stand 1.52 percent higher at 6,823.81. The blue-chip index has recovered following yesterday’s slump after Prime Minister Theresa May cancelled the Brexit deal vote in parliament, which was scheduled for today.

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“UK markets have started to bounce bank after yesterday’s Brexit calamity,” AJ Bell investment director Russ Mould said, as quoted by City A.M. “The fact that markets are actually moving forward shows that investors are perhaps scouting around for bargains amid this year’s turmoil rather than sitting on their hands in fear.”

Individual risers

In individual movers, shares in Anglo American have been in demand amid a broader rise in blue-chip miners, and after the blue-chip group said that it expects its full-year production to be two percent above previous guidance and costs five percent below. Anglo American’s share price is currently 4.23 percent higher at 1,641.60p.

WPP (LON:WPP) has been another prominent Footsie riser after the group’s new chief executive Mark Read updated investors on his strategy, unveiling plans to simplify the ad giant’s structure. WPP’s shares are changing hands 6.78 percent higher at 859.60p.

Ashtead (LON:AHT) is also outperforming the broader market, having added 4.20 percent to 1,674.00p, after the equipment rental firm delivered an upbeat set of interims and hiked its full-year outlook. 

The FTSE 100 was 1.61 percent up at 6,829.85 points as of 12:49 GMT on Tuesday, 11 December 2018.

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