Source: Sharecast
The FTSE 100 was trading 0.3% higher at 9,050.32, after closing at a fresh all-time high of 9,023.81 on Tuesday. The index has settled at record highs for the past two sessions after four straight days of gains.
President Donald Trump announced overnight in a post on Truth Social that he had agreed a "massive" trade deal with Tokyo that will see Japanese imports into the US slapped with a 15% tariff – not as steep as the 25% rate he threatened earlier this month.
The news sparked a big rally on Asian stock markets, with Japan's Nikkei 225 in particular up 3.7% as carmakers surged.
The deal comes as EU members rally to hit back against its 30% US tariffs with retaliatory measures, with reports suggesting that the bloc may use a so-called anti-coercion instrument, which includes placing restrictions on US firms involved in EU public procurement, as well as enforcing limitations on IP rights.
"European stock markets are taking their clues from Japan this morning, rising sharply on the hope that the Japan deal means the EU is about to achieve the same," said Neil Wilson, UK investor strategist at Saxo Markets.
Wednesday will be another quiet day for economic data, with the MBA mortgage applications numbers and existing home sales figures in the States being the only major releases.
Informa jumps, Fresnillo slumps
Topping the risers was publishing and exhibitions group Informa which aid that strong forward visibility had led it to upgrade FY guidance. Informa said it delivered reported revenues had grown by more than 20%, while operating margins increased from 27.5% to 28.4%
Precious metals miner Fresnillo was a heavy faller, dropping 4% after delivered a mixed outlook alongside its second-quarter results. The copmany said that gold output was trending towards the upper end of full-year guidance, though silver results have been weaker than hoped.
Pub landlord JD Wetherspoon rose after like-for-like sales increased by 5.1% year-on-year in the 12 weeks ended 20 July, as sales volumes recently overtook pre-pandemic levels. Year-to-date like-for-like sales also increased by 5.1%.
Meanwhile, AstraZeneca was extending gains made the previous day on the back of its announced $50bn investment plan in the US, which it said will support its ambition to reach $80bn in revenue by 2030.
Market Movers
FTSE 100 (UKX) 9,050.32 0.29%
FTSE 250 (MCX) 22,004.02 0.32%
techMARK (TASX) 5,187.92 0.58%
FTSE 100 - Risers
Informa (INF) 859.00p 4.00%
AstraZeneca (AZN) 10,610.00p 2.49%
JD Sports Fashion (JD.) 87.68p 2.19%
Ashtead Group (AHT) 4,816.00p 1.71%
Diageo (DGE) 1,965.50p 1.68%
Croda International (CRDA) 2,864.00p 1.67%
3i Group (III) 4,352.00p 1.66%
GSK (GSK) 1,368.50p 1.56%
Convatec Group (CTEC) 244.40p 1.49%
Rentokil Initial (RTO) 368.40p 1.35%
FTSE 100 - Fallers
Fresnillo (FRES) 1,411.00p -3.75%
SSE (SSE) 1,927.50p -1.85%
National Grid (NG.) 1,071.00p -1.24%
United Utilities Group (UU.) 1,154.00p -1.20%
Anglo American (AAL) 2,319.00p -1.15%
Severn Trent (SVT) 2,752.00p -1.15%
Centrica (CNA) 162.10p -1.04%
Antofagasta (ANTO) 1,977.00p -0.95%
British American Tobacco (BATS) 3,821.00p -0.83%
London Stock Exchange Group (LSEG) 10,520.00p -0.76%
FTSE 250 - Risers
Aston Martin Lagonda Global Holdings (AML) 78.00p 4.14%
Patria Private Equity Trust (PPET) 564.00p 3.49%
JPMorgan Japanese Inv Trust (JFJ) 638.00p 2.24%
Ibstock (IBST) 152.00p 2.15%
Victrex plc (VCT) 717.00p 1.99%
Pagegroup (PAGE) 271.00p 1.96%
RS Group (RS1) 574.50p 1.95%
Renishaw (RSW) 2,985.00p 1.70%
AO World (AO.) 95.90p 1.70%
JTC (JTC) 849.00p 1.56%
FTSE 250 - Fallers
FirstGroup (FGP) 204.20p -6.93%
Breedon Group (BREE) 364.80p -5.98%
Close Brothers Group (CBG) 400.20p -2.44%
Hochschild Mining (HOC) 264.00p -1.86%
Pennon Group (PNN) 530.00p -1.67%
Endeavour Mining (EDV) 2,294.00p -1.63%
Ocean Wilsons Holdings Ltd. (OCN) 1,440.00p -1.03%
Drax Group (DRX) 691.50p -1.00%
VinaCapital Vietnam Opportunity Fund Ltd. (VOF) 456.00p -0.87%
Chemring Group (CHG) 555.00p -0.72%