Markets

FTSE 100 Edges Higher In Cautious Trade

(RTTNews) - U.K. stocks rose on Tuesday and the pound fluctuated versus the euro amid a lack of progress in the Brexit talks.

The U.K. government said that talks with Chief EU Negotiator Michel Barnier were constructive, but there was still no basis to resume official negotiations. The official British position remains that the EU first needs to make concessions.

New coronavirus restrictions to limit the spread of virus in Europe capped the potential upside, with Ireland announcing some of Europe's strictest constraints in a bid to suppress Covid-19.

The benchmark FTSE 100 rose 16 points, or 0.3 percent, to 5,900 after losing 0.6 percent in the previous session.

Hikma Pharmaceuticals edged down slightly after it expanded a partnership agreement with Arecor.

Hargreaves Lansdown rose about 1 percent after the financial services company signed a pact with its billionaire co-founder and largest shareholder Peter Hargreaves, which will allow him some representation on the board.

Consumer products company Reckitt Benckiser rallied 1.8 percent after lifting its FY20 revenue growth view.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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