FTSE 100 Modestly Higher Ahead Of US Tariff Deadline

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(RTTNews.com) - U.K. shares were modestly higher on Tuesday even as caution prevailed ahead of the July 6 deadline for the Trump Administration's planned imposition of tariffs on Chinese imports.

The benchmark FTSE 100 was up 31 points or 0.42 percent at 7,579 in late opening deals after tumbling 1.2 percent on Monday.

McBride shares fell 6.7 percent. The manufacturer of Co-manufactured and Private Label products announced that it now expects full year adjusted profit before tax to be marginally below the lower end of analyst expectations, following weaker than expected sales levels in May and June 2018.

Paragon Banking Group soared 8.4 percent after it acquired the entire share capital of Titlestone Property Finance Ltd. for about 48 million pounds.

Glencore, which is facing U.S. money laundering probe, slumped 9 percent.

In economic releases, the U.K. construction output grew at the fastest pace in seven months in June, survey data from IHS Markit and Chartered Institute of Procurement & Supply showed.

The construction Purchasing Managers' Index rose to 53.1 from 52.5 in May. The latest reading pointed to the sharpest rise in construction output since November 2017.

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This article appears in: Stocks , Politics
Referenced Symbols: GLNCY ,

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