Brexit Delay And US Trade Hopes Nudge Markets Up

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Politics in the US and UK are driving stock markets to post modest rises.

In the US, President Donald Trump has opted for his fast becoming default walkaway tactics in trade talks with China.

He says he feels the US and China will reach a deal over trade tariffs, but he is in no hurry to put his name to a treaty and will walk away if the agreement does not go America’s way.

The negotiating stance is like the swift end Trump demonstrated at his recent talks with North Korean leader Kim Jong-un in Hanoi, Vietnam, where the president walked out when talks were not going his way.

In the Chinese case, Trump says he wants to thrash out the trade tariff details with his opposite number Xi Jinping, who he had been set to meet in Florida later in March, but that meeting has now been put back until sometime in April.

Great deals or none at all

The Chinese want a formal state visit, but Trump is holding out for a low-key meeting at one of his golf resorts.

“We’re making great deals, or we’re not going to make them at all. We’re going to go with tariffs,” Trump said.

Fast-moving events at Westminster have nudged Britain towards a likely delay in leaving the European Union.

In a series of votes, MPs have rejected the exit deal offered by the EU and the option of leaving without a deal.

They are debating a request to the EU to delay Brexit, which must be unanimously agreed by the remaining 27 EU nations.

However, they are no closer to a consensus on what should replace the withdrawal agreement if a delay is forthcoming.

Market data

Exchange% changeValueMovement
LONDON
FTSE 1000.69%7208.6949.5
FTSE 2500.73%19319.23139.14
Amsterdam
AEX0.89%544.084.82
Paris
CAC400.59%5337.6431.26
Frankfurt
DAX0.14%11588.4316.02
STOXX500.44%3338.1314.68
Madrid
IBEX350.68%9254.862.1
New York
Dow Jones0.58%25702.89148.23
NASDAQ0.69%7643.4152.37
Chicago
S&P5000.70%2810.9219.4
Bombay
BSE Sensex0.01%37754.892.72
Hong Kong
Hang Seng0.15%28851.3943.94
Tokyo
Nikkei-0.02%21287.02-3.22
Shanghai
Shanghai Composite-1.20%2,990.69-36.3

 

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