FTSE Trades Higher as Market Sentiment Improves on US-China Trade Talks at G20 Summit
Arslan Butt • 1 min read
An improvement in the sentiment in global financial markets following the G20 summit has helped British stocks rally on Monday. At the time of writing, FTSE is trading above 7488, inching slightly higher than its close on Friday.
The sentiment has improved after US President Trump met the Chinese President Xi Jinping at the G20 summit in Osaka, Japan, on June 28-29. Both sides have finally resumed their negotiations on trade issues and have confirmed their willingness to cooperate on working towards a trade deal.
In the meantime, Trump has put off his decision to hike tariffs on $300 billion worth of Chinese goods and has also allowed American tech companies to supply components to Huawei.
With the British manufacturing PMI coming up for release soon, let’s see if the FTSE can sustain this rally today and for the rest of the week ahead.