FTSE 100 opens higher despite deadlock in Brexit talks
![](https://www.cityam.com/wp-content/uploads/2020/03/1087176344-1.jpg?w=742)
The FTSE 100 opened higher this morning outperforming its European peers as Brexit remains in focus.
London’s blue chip index climbed 0.7 per cent on the open to 6,535 poins, while the FTSE 250 of midcap companies rose 0.17 per cent.
Brexit talks have stalled somewhat despite promising signs at the start of the week. French president Emmanuel Macron is making fresh demands over fishing rights which could destabilise progress, according to reports.
Talks between Michel Barnier and British envoy David Frost last night took a “material change for the worse” and “put in jeopardy hopes” of a trade deal this weekend, according to Sky News.
Sterling rose to its highest level against the dollar in a year following comments from the Irish foreign minister claiming a Brexit deal could be reached “within days”.
“Even with the pound at three-month highs investors remain optimistic that a deal will be achieved,” said market analyst Fiona Cincotta.
Once again the FTSE outperformed its European peers. The German Dax slipped 0.04 per cent, while France’s Cac edged 0.3 per cent higher.
Overnight Asian shares reached a record high on growing prospects of a US economic stimulus package, as vaccine news buoyed investor sentiment.
MSCI’s index of Asia-Pacific shares outside Japan rose 0.78 per cent, while Japan’s Nikkei dropped 0.22 per cent.
Investors will also be looking at the US jobs report due today. The unemployment rate is expected to be down marginally from 6.9 per cent to 6.8 per cent, while the average earnings metric is expected to fall 0.2 per cent.
“A fall in wages could be viewed as positive for the economy as it could be an indication that more lower-income workers have returned to the workforce,” said David Madden, market analyst at CMC Markets.
The Dow Jones failed to close above 30,000 points on Thursday but futures are tracking higher at 30,050.