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FTSE 100 watch: Footsie little changed in wake of US-China talks

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The UK benchmark index has been little changed this Friday, with investors continuing to digest the outcome of the US-China trade talks. FTSE 100 housebuilders meanwhile have been in demand following upbeat comments from Bank of America Merrill Lynch.

Index little changed

As of 12:48 GMT, the Footsie had given up 13.04 points to stand 0.19 percent lower at 6,929.83, having traded higher earlier in the session. Sentiment has been upbeat during the week amid optimism over the US-China trade relations and after Federal Reserve Chair Jerome Powell signalled that the US central bank could be patient in hiking rates further.

“After the mid-level discussions in China, we seem to be set for some high-level talks in Washington. Signs of progress, but we need to see more detail,” Neil Wilson of markets.com, commented, as quoted by Proactive Investors. “Meanwhile Fed chair Jay Powell again stressed that the Fed will remain patient on raising rates. The more dovish rhetoric has stuck. Concerns about the US government shutdown are yet to really bear down on equities.”

FTSE 100 movers

UK housebuilders meanwhile have climbed higher after Bank of America Merrill Lynch shifted its stance on the sector from negative to neutral.

“It seems at least possible, or even probable, that some sort of Brexit resolution is within sight and therefore the UK House Building sector may see some relief,” the analysts said, as quoted by Reuters. Shares in Persimmon (LON:PSN) currently stand 4.97 percent higher at 2,216.00p, while Taylor Wimpey (LON:TW) is 5.34 percent higher at 156.85p.

The FTSE 100 was 0.63 percent down at 6,918.06 points as of 13:11 GMT on Friday, January 11, 2019.

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