China-US talks help lift global markets
Friday’s upturn followed a week of turbulence prompted by the economic crisis in Turkey which saw investors flee into safer stocks.
The FTSE 100 ended the day flat at 7,558.59 points, near a four-month low, and sealed its worst weekly loss in five months with a 1.4% decline.
On Wall Street the Dow Jones closed 0.46% ahead, the S&P gained 0.33% while the tech-heavy Nasdaq rose 0.13%.
The swing towards a more positive mood came as China ‘s Vice Minister of Commerce Wang Shouwen agreed to meet US. representatives next week, and the Shanghai composite index rose 0.16%.
However, analysts remained wary of any significant change in President Trump’s hardline policy.
Markets continue to be edgy following the diplomatic rift between Turkey and the US which has seen a plunge in the Turkish lira and a shift in funds from emerging markets to developed markets.
The lira saw a 25% bounce to 5.815 per dollar, despite threats of more sanctions from Washington.