The FTSE 100 Futures is trading at 7,437.00   with a loss of -0.18% percent or -13.20 point. The CAC 40 Futures is trading at 6,037.00 with a loss of -0.05% percent or -3.00 point. The DAX Futures is trading at 13,552.30 with  a loss of -0.19% percent or -25.70 point. The EURO Stoxx 50 Futures trading at 3,794.00 with a loss of -0.16% percent or -6.00 point.

TODAY’S FACTORS AND EVENTS

The mood was lifted after China said it would halve tariffs on more than 1,717 US products. The cut on levies will be introduced on 14 February, which is the day the US is set to reduce tariffs on $120bn worth of Chinese imports.

CMC Markets analyst David Madden said: “The move by Beijing is a nice way to take the pressure off the Chinese economy in light of the coronavirus situation, plus it’s a great distraction for dealers – it will take their mind off of the deepening health crisis. The reduction in levies from the Chinese side shows they are willing to play ball with the US, and it should help mend the frayed trade relations.”

YESTERDAY ACTIVITY

For the day the FTSE 100 closed at 7,504.79  up with +0.30% percent or +22.31  point. France’s CAC  40 closed at 6,038.18   up with +0.88% percent or +52.78 point.Germany’s DAX closed at  13,574.82 up with +0.72% percent or +96.49  point.

WORLD MARKETS

For the day the Dow is trading at 29,379.77  up with +0.30% percent or +88.92  point. The S&P 500 is trading at 3,345.78  up with +0.33% percent or +11.09 point. The Nasdaq Composite is trading at 9,572.15 up with +0.67% percent or +63.47 point.

In other parts of world, Japan’s Nikkei 225 is trading at 23,827.98  with a loss of –0.19% percent or –45.61    point. Hong Kong’s Hang Seng is trading at 27,334.94 with a loss of –0.58% percent or –158.76  point. China’s Shanghai Composite is trading at 2,875.96 up with +0.33% percent or  +9.45 point. India’s BSE Sensex is trading at  41,190.78  with a loss of –0.28% percent or –115.25 point at 12:15 PM.