Friday, August 16: The FTSE 350 failed to open until 9.40am following a technical glitch at the London Stock Exchange. FTSE AIM and FTSE All-share indices were unaffected by the technical hitch, whilst continental equities posted strong gains at the open following on from bullish trading in China. China closed out trade in a positive manner after the superpower hinted at further stimulus to spur economic growth and chip manufacturers rallied in the region on a promising earnings read-across from US counterparts.
London’s FTSE 350 eventually opened around 9.40am in the green after the LSE encountered a “software issue” with UK equities buoyed on further Chinese stimulus for those stocks exposed to Asia as the afternoon brought a boost to the index as strong US retail sales data quelled fears of a slowdown in the world’s largest economy on a day where stock specific news was thin on the ground.
European equities were higher at the close, with the FTSE 100 +0.71%, the CAC 40 +1.22% and the DAX 30 +1.31%.