Closing summary
Time to recap…
The merger between Nissan and Honda to create a new automobile giant is reportedly on the brink of collapse.
-
UK government borrowing costs have dropped to their lowest since December, easing fears that Rachel Reeves’s fiscal headroom has been squished.
Borrowing costs fell after data showed a slowdown in the US economy last month, while in the UK firms cut jobs at the fastest rate in several years.
Calm has returned to the financial markets, after two days in which trade war fears gripped investors. The yuan has weakened, though, as trading resumed in China after the lunar new year break.
America’s trade deficit has widened, as firms rushed to avoid tariffs by importing goods in December.
Gold, seen as a hedge against disruption caused by Donald Trump, hit a new all-time high.
We’ll be back tomorrow, when the Bank of England is expected to cut UK interest rates at noon…. GW
FTSE 100 closes higher
Britain’s stock market has closed higher tonight, as shares recovered some of their losses from earlier this week.
The blue-chip FTSE 100 index has ended the day 52.5 points higher at 8623 points, heading back towards last week’s record highs.
Pharmaceuticals firm GSK was the top rises, surging 7.6% today after raising its sales target this morning (see earlier post). That’s its biggest daily rise since 2008!
Updated
