Pound weakened and the FTSE rose after the announcement of BP output
2019-02-05 12:36 pm | Resource: NEWS | No Views : 85
Pound fell as London's FTSE 100 climbed 1.29% at 11:59 am on Tuesday after BP .
- Shares rose 4.85% at 11:54 am CET. The giant oil company released its quarterly earnings report earlier in the day, announcing that its earnings for 2018 more than doubled over the previous year.
- The FTSE index of mining and construction shares was up, with Glencore Plc up 1.74% and CrH Plc up 2.44% at 11:58 am.
- Meanwhile, Germany's DAX rose 1.19% above the opening line at 12:16 CET, led by Wirecard AG, which rose 6.65%.
- The French CAC 40 rose 1.04% at 12:17 CET.
May returns to Brussels to meet Yonker
A spokeswoman for the European Commission said on Tuesday that Prime Minister Teresa Mae would return to Brussels on Thursday to continue negotiations on Britain's withdrawal from the European Union. Mae will meet with European Commission President Jean-Claude Juncker a day after meeting her Irish counterpart Leo Faradkar, who earlier said Ireland and the European position on the withdrawal agreement agreed with the United Kingdom last year.
Earlier, the UK prime minister promised to find a solution to Irish support that would "fulfill obligations to Northern Ireland and secure a majority in the Westminster Parliament."
UK to cut import tariffs to zero in case of exit without agreement
The UK government plans to unilaterally reduce tariffs on all imports to zero if Britain leaves the EU in an unregulated fashion, Haavpost reported on Tuesday.
Liam Fox, the country's trade minister, told industry leaders about his plans to use executive powers to change the trade bill to allow Shetmanster to cut tariffs on all foreign goods to avoid a big price increase if Britain does not reach an agreement with the EU by March 29.
A spokesman for the minister of commerce confirmed that the government was considering the plan.
- The euro was 0.18% lower than the dollar and 1.1414 at 12:18 CET.
- While the pound traded 0.25% in the red zone against the dollar, trading at 1.3006 at the same time.
- Sterling fell to 143.13 against the yen, from a high of 143.56 struck earlier this morning
- The Sterling dropped to 0.8777 against the EUR, trading at a 4-day low of 0.8778.
- The British currency swallowed gains to 1.3012 against the franc, after rising at 1.3049.
Time frame Used - four hours The USD/JPY is moving in a sideway direction in the near term. The USD/JPY is still facing resistance and selling pressure around levels of 111.42 - 110.92 as the USD/JPY is floating in a narrow range and the USD/JPY is moving above the Bollinger's moving average line within the narrow range, indicating a potential price explosion but Not yet determined in any direction. In…
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