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FTSE gains as trade tensions ease, earnings dominate

Published 05/15/2019, 03:38 PM
Updated 05/15/2019, 03:40 PM
FTSE gains as trade tensions ease, earnings dominate

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 up 0.1%; FTSE 250 up 0.3%
* Improving trade sentiment buoys HSBC
* TUI, Compass Group lead blue-chip gainers
* CYBG surges after reporting H1 profit

May 15 (Reuters) - UK shares rose as risk sentiment picked
up after comments from President Donald Trump playing down
Washington's trade war with Beijing, while a slew of earnings
reports drove major share moves on both main indexes.
The FTSE 100 .FTSE was up 0.1% and the FTSE 250 .FTMC
was 0.3% higher by 0721 GMT.
Trump on Tuesday described the conflict as "a little
squabble" and said talks between the world's two largest
economies had not collapsed. Asia-focussed HSBC HSBA.L provided the biggest boost to
the main index, up 0.6%.
"A series of comments and tweets from the President has
markets behaving a little more sensibly, but risks still seem
skewed to the downside until there is clarity and a (trade)
deal," Markets.com analyst Neil Wilson said.
On an earnings-heavy day, tour operator TUI TUIT.L was the
biggest blue-chip gainer. It rose 2.8% after in-line half-year
results, while warning that lack of clarity over the status of
its grounded Boeing 737 MAX planes could hit profits.
The world's biggest catering firm Compass Group CPG.L
added 2.4% after hiking its annual organic revenue growth
forecast. On the mid-cap index, lender CYBG CYBGC.L recorded a steep
rise after it swung to a first-half profit. Shares jumped 8.8%
and were on track for their best day in more than three months.

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