UK stocks up on China tariff cut, but Royal Mail at life low | Malay Mail

A man walks through the lobby of the London Stock Exchange. The FTSE 100 rose 0.3 per cent, but oil majors Shell and BP weighed on the index as they tracked crude prices lower. — Reuters pic

The FTSE 100 rose 0.3 per cent, but oil majors Shell and BP weighed on the index as they tracked crude prices lower. The company's strained relationship with the CWU union, which has called for a strike ballot, “bodes ill for both business as usual productivity improvements and reaping the benefits of the medium-term strategy,” Liberum analyst Gerald Khoo wrote.Global markets have been attempting a recovery after sharp losses last week, and were given a shot in the arm on Wednesday by media reports that scientists had developed a drug against the China-linked virus.

“The potential for an aggressive and rapid correction lower still lurks though, if negative Wuhan virus headlines emerge,” he warned, adding that economic data for January was yet to show any severe spillover in growth from the virus.

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