FTSE 100 watch: Footsie recoups losses ahead of latest Brexit vote

The UK benchmark index has climbed higher in today’s session, recouping some of yesterday’s losses, ahead of a parliament vote on Brexit later in the day. In individual FTSE 100 movers, shares in Hargreaves Lansdown (LON:HL) have been sold off after the company updated the market on its half-year performance.

FTSE 100 traders higher

As of 12:48 GMT, the Footsie had added 87.83 points to stand 1.30 percent higher at 6,834.93. Sentiment has been upbeat, with investors awaiting a parliament vote on the changes which Theresa May needs to seek to her Brexit deal.

Proactive Investors quoted Daiwa Capital Markets as commenting that the Prime Minister’s “strategy was revealed last night when she sought to persuade Conservative MPs to back an amendment […] which would endorse her deal subject to negotiating alternative arrangements to avoid a hard border in Ireland in place of the current draft backstop agreement”.

“Of course, the EU has long made clear that it has no intention to renegotiate the backstop or anything else in the Withdrawal Agreement,” Daiwa continued, adding that assuming the amendment was selected for a vote, “the magnitude of defeat could be instructive as to what might be required if a version of May’s deal is eventually to make it through the Commons”.

Hargreaves Lansdown drops

In individual blue-chip movers, Hargreaves Lansdown has fallen deep into the red after reporting a drop in net new business for the first half of its financial year and cautioning on the impact of Brexit uncertainty going forward. The asset manager’s shares are currently changing hands 5.01 percent lower at 1,707.00p.

The FTSE 100 was 1.30 percent up at 6,834.55 points as of 13:01 GMT on Tuesday, 29 January 2019.