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FTSE 100 rebounds despite trade war escalation; Greggs on a roll

Published 05/14/2019, 03:34 PM
Updated 05/14/2019, 03:40 PM
FTSE 100 rebounds despite trade war escalation; Greggs on a roll
UK100
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RSW
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GRG
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FTMC
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FTNMX551030
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100, FTSE 250 up 0.5 pct
* Miners, Asia-exposed stocks boost main index
* Greggs soars on vegan sausage roll popularity
* Renishaw skids after cutting profit target again

May 14 (Reuters) - Britain's FTSE 100 bounced back as
investors returned to equities after U.S. President Donald Trump
backed trade discussions with China to be successful, while
baker Greggs hit a life-high on brighter 2019 prospects.
The FTSE 100 .FTSE and the FTSE 250 .FTMC were up 0.5%
by 0718 GMT.
The main index rose despite China levying retaliatory
tariffs on U.S. goods on Monday, as sentiment was tempered after
Trump said he felt trade negotiations with Beijing were "going
to be very successful". Miners .FTNMX1770 as well as Asia-facing financial
heavyweights rebounded after steep losses in the previous
session to boost the FTSE 100 on Tuesday.
All but one sector was in the black on the blue-chip bourse.
Utilities slipped as appetite for riskier assets returned after
three sessions of caution.
Among mid-caps, baker Greggs GRG.L surged 12% to an
all-time high after it said the popularity of its vegan sausage
rolls continued to grow and would lead 2019 sales and profit to
be materially higher than its earlier view. But Renishaw RSW.L skidded 9.1% after the engineering
group cut its annual profit target for the second time this
year.

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