European climb despite “war of words”

European climb despite “war of words”

European markets have climbed today with traders choosing to ignore US President Donald Trump’s “war of words” at the G7 Summit in Canada. The FTSE 100 is up 0.8pc, while Frankfurt’s Xetra Dex 30 and the Europe-wide Stoxx 600 are both up 0.5pc and 0.4pc respectively.

 The Pound Sterling, however, has slipped against other currencies following the release of “rotten” UK manufacturing and industrial output data. It is down 0.2pc against the Dollar and 0.5pc against the Euro.

Brent Crude and West Texas Intermediate are both down 0.3pc and 0.2pc at $76.23 and $65.59 a barrel respectively. Gold, however, is holding steady at $1,298.18 an ounce.

 UK oil and gas exploration firm Ophir Energy has had its stock downgraded to ‘Hold’ at Jeffries, while Deutsche Bank has made the same call with mining giant Rio Tinto.

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