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04 Jan 2019 | 09:00

FTSE advances on upcoming US-China trade war talks

Investors looked ahead to trade talks between the US and China next week in hopes of a breakthrough after a shocking profit warning from Apple shook global markets on Thursday.

The FTSE 100 rose 0.6% to 6,733 at around 9am.

Brent crude oil surged 1.4% to $56.76 per barrel.

Convenience retailer McColl's appointed Robbie Bell to the board as chief financial officer after a rigorous search process, the shares retreated 1.9% to 54.9p.

Musical retailer Gear4music plummeted 45.9% to 276p on a warning that earnings in 2019 will be 'slightly below' the prior year.

Cambria revealed trading in the three months to November had been in line with management expectations despite new car sales falling following regulatory changes. Shares in the car seller accelerated 4.6% to 57p.

Shares in textile rental provider Johnson Service advanced 2.7% to 119.2p as full-year results are expected to meet market expectations thanks to growth continuing in the first half of the year.

Pharmaceutical company Circassia warned it may need 'third-party funding' or a loan facility via partner AstraZeneca to meet a deferred option payment relating to chronic obstructive pulmonary disease Tudorza. Shares in Circassia fell 5.4% to 52p.

Story provided by StockMarketWire.com
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