FTSE LIVE: Pound back on the rise as new MPs head to Parliament; Shares jump on US-China trade truce; Sports Direct close to tax deal with Belgian authorities
The pound is back on the rise today as sentiment on the UK economy continues to improve following the decisive election. Sterling had slipped back from Thursday night’s sharp rise as traders banked some profit, but that sell-off appears to be over.
The stock market is also well in the green today due to bullish investor sentiment triggered once again by fresh hopes the US and China are closing in on a truce in their trade war.
In company news Mike Ashley’s Sports Direct has said it is confident a €674million tax dispute in Belgium is close to being settled.