FTSE 100 LIVE: Global stocks climb higher as investors shrug off damage from US protests

2 min

13 shares, 92 points

Asia-Pacific trading on Tuesday saw Japan’s Topix jump 1.4 percent. Indices in Australia and Hong Kong also inched higher and China’s CSI 300 index of Shanghai- and Shenzhen-listed shares was little changed after the central bank said it wanted Rmb400bn ($ 56bn) to temporarily purchase small business loans from banks. Meanwhile, Wall Street saw the S&P 500 close 0.4 percent higher.

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FTSE 100 LIVE: Global stocks edged higher today (Image: GETTY)

According to the FT, US stocks have prospered from a V-shaped recovery due to the pandemic.

Futures markets also tipped the S&P 500 to drop 0.4 percent when trading begins today.

Traders did not seem to be worried by US President Donald Trump warning he would send in the military to tackle the violent protests that have raged for seven days following the death of an unarmed black man George Floyd.


7.43am update: No deal Brexit cast doubts about UK’s economy ability to recover from COVID-19

An economist at Deutsche Bank AG, Sanjay Raja, has claimed a no-deal Brexit would halve the pace of growth next year to 1.5 percent.

The UK in a Changing Europe has claimed GDP could decrease by eight percent over ten years due to trade barriers.

7.29am update: Small businesses across America face new threat with protest looting

Small businesses have struggled because of the COVID-19 pandemic and now are struggling due to the looting.

Many shop owners have said their premises have been damaged from broken windows and even merchandise has been stolen.

7.15am update: Travel companies Easyjet and Carnival to be removed from the FTSE 100

The two businesses have seen their share price plunge this year due to the COVID-19 lockdown.

Prices have fallen 34 percent and 53 perce t in the past three months.

6.14am update: Australia’s Zip leans ob US market with buy-now-pay-later peer

Zip Co Ltd said on Tuesday it will buy out buy-now-pay-later (BNPL) firm QuadPay in a stock deal valuing the New York-based company at $ 269 million, as the Australian firm looks to tap the fast-growing US-market where its rivals are thriving.

Zip will offer 119 million shares, or about 23percent of the company, to shareholders of QuadPay for the remaining 86% of the US firm it does not already own.

Larger rivals like Afterpay Ltd and Sweden’s Klarna have flourished in the United States, building on the BNPL sector’s growing popularity, especially with millennials, as it allows consumers to buy products in interest-free installments.

The news sent Zip shares soaring as much as 44% to A$ 5.40, their highest since October last year.

The firm also said it secured up to A$ 200 million ($ 135.70 million) from an affiliate of Susquehanna International Group through the issue of notes and warrants, highlighting growing investor interest in the space.

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