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FTSE 100 inches higher ahead of Sino-U.S. trade deal

Published 01/15/2020, 04:23 PM
Updated 01/15/2020, 04:24 PM
FTSE 100 inches higher ahead of Sino-U.S. trade deal
UK100
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NWG
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TLW
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FTMC
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DPLM
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(For a live blog on European stocks, type LIVE/ in an Eikon
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* FTSE 100 up 0.1%, FTSE 250 down 0.2%
* U.S. tariffs on China to remain in place for now
* RBS slips on rating cut
* Diploma, Tullow lead midcaps lower

Jan 15 (Reuters) - London's main index eked out modest gains
on Wednesday, hours before the imminent inking of an initial
U.S.-China trade deal, though sentiment was tempered as
Washington said tariffs on Beijing would not be rolled back
immediately.
U.S. Treasury Secretary Steven Mnuchin said tariffs on
Chinese goods would not be repealed until the completion of a
Phase 2 agreement, planting some doubt in the minds of investors
who were betting on a quick de-escalation of tensions.
As widely reported, the eventual removal of tariffs by
Washington, which is not expected until after November's
presidential elections, would depend on Beijing's compliance
with the Phase 1 accord.
The FTSE 100 .FTSE edged 0.1% higher. Royal Bank of
Scotland RBS.L lagged, however, giving up 3% after a rating
downgrade by Barclays.
The FTSE 250 .FTMC dipped 0.2%, weighed down by technical
products and services provider Diploma DPLM.L , which skidded
3.4% after its trading update and a 2.4% drop in Tullow Oil
TLW.L after the company reported a $1.5 billion write-down.

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