FTSE 100 watch: Footsie inches higher amid Brexit deal hopes

FTSE 100 watch: Footsie inches higher amid Brexit deal hopes

The FTSE 100 has climbed marginally higher on the last trading day of the week, finding support in hopes that the UK won’t crash out of the European Union without a deal. In individual movers, Rolls-Royce Holdings (LON:RR) is trading deep in the red amid ongoing issues with its Trent 1000 engines.

FTSE 100 inches higher

As of 12:11 BST, the Footsie had added 12.35 points to stand 0.17 percent higher at 7,368.77. Sentiment has been cautiously positive this Friday in the wake of monetary policy decisions around the world, and further boosted by Brexit optimism after European Commission President Jean-Claude Juncker said that he was and is doing ‘everything to get a deal’ with the UK.

Proactive Investors, however, reported that Deutsche Bank was ‘not as excited’ as the rest of the market.

“So lots of excitement and positive mood music on Brexit over the last 24 hours but we are NOT as excited,” the broker pointed out, adding that Juncker had said that he was open to getting rid of the Irish backstop but only if Boris Johnson came up with a viable alternative and this has been the EU’s position for a long time.

Individual Footsie movers

In individual movers, Rolls-Royce is at the bottom of the FTSE 100 leaderboard after cautioning that problems with its Trent 1000 engines will take longer to fix than previously anticipated. Rolls-Royce’s shares are changing hands 2.43 percent in the red at 790.14p.

Royal Bank of Scotland Group (LON:RBS) meanwhile is outperforming the market with investors welcoming the long-awaited news that the bailed-out lender had appointed Alison Rose to succeed outgoing chief executive Ross McEwan. RBS’ shares are up by 3.85 percent at 216.00p.

The FTSE 100 was 0.13 percent up at 7,366.33 points as of 12:51 BST on Friday, 20 September 2019.

By Tsveta van Son
Tsveta van Son is part of Invezz’s journalist team. She has a BA degree in European Studies and a MA degree in Nordic Studies from Sofia University and has also attended the University of Iceland. While she covers a variety of investment news, she is particularly interested in developments in the field of renewable energy.
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