Burberry Share News (BRBY)

(Alliance News) - The US-China trade ceasefire over the weekend ensured London stocks got off to a good start to the week on Monday, while news of an output cap agreement between Saudi Arabia and Russia boosted oil majors.The FTSE 100 index closed up 71.87 points, or 1.0%, at 7,497.50. The FTSE 250 ended up 172.56 points, or 0.9%, at 19,634.66, while the AIM All-Share closed down 1.27 points, or 0.2%, at 917.61.The Cboe UK 100 ended up 0.9% at 12,721.00, the Cboe UK 250 closed up 0.8% at 17,549.32, and the Cboe Small Companies ended up 0.5% at 11,350.34.In European equities on Monday, the CAC 40 in Paris ended up 0.5%, while the DAX 30 in Frankfurt ended up 1.0%.Stocks in New York were firmly in the green at the London equities close, with the Dow Jones up 0.5%, the S&P 500 index up 0.7%, and the Nasdaq Composite 1.1% higher. "This weekend's trade truce between the US and China delivered a nice start to the trading week for equities all around the globe," said Edward Moya, senior market analyst at Oanda."While no set timeline has been suggested by both sides, financial markets are appearing to be optimistic we could see something by Autumn," Moya continued, noting: "The political motivation from both sides to reach final trade deal is growing, Trump with his 2020 election and China with the 70th anniversary of the founding of the People's Republic of China, which falls on October 1." Over the weekend, US President Donald Trump said he would hold off on his threat to slap additional tariffs on USD325 billion worth of Chinese imports "for at least the time being."He said the meeting with Chinese President Xi Jinping was "excellent" and that "we're right back on track" with trade talks following the highly anticipated encounter in the Japanese city.Trump also said that he would allow US companies to sell their products to Chinese firm Huawai, but that granting the telecommunications giant access to the US market would be dealt with further down the line, if talks progress.Stocks in Asia also gained ground overnight, with the Nikkei 225 in Japan closing up 2.1% and the SSE Composite index climbing 2.2%.Turning to London, David Madden at CMC Markets commented: "The JPMorgan Chinese Investment Trust is one of the best performers on the London market today, and that is hardly a surprise given the surge in mainland Chinese shares overnight."Shares in JPMorgan Chinese Investment Trust closed up 8.9%, while other stocks heavily exposed to the Chinese market such as luxury good retailer Burberry and chip maker IQE closed up 1.2% and 15%, respectively. In June, IQE warned annual revenue would be lower than market estimates due to order delays resulting from the US ban on Chinese smartphones and consumer electronics manufacturer Huawei.Elsewhere on the London Stock Exchange, oil majors were helping to drive up the FTSE 100 as OPEC kingpin Saudi Arabia and non-member Russia agreed to keep daily output caps.Ministers from the 14-nation Organization of the Petroleum Exporting Countries meet in Vienna on Monday to discuss output, before gathering a day later for OPEC plus, which is a grouping of 24 oil-producing countries that includes Russia and accounts for almost half of global crude.However, Russian President Vladimir Putin and Saudi Arabia grabbed the headlines on Saturday with an agreement to extend a deal which aims to keep oil output low in order to soak up abundant supplies.Shares in BP closed up 1.7%, while Royal Dutch Shell 'A' and 'B' shares both climbed 1.9%.Brent oil was quoted at USD65.40 a barrel at the London equities close Monday - having traded above the USD66 mark earlier in the session - and up from USD65.30 late Friday.Meanwhile, gold was quoted at USD1,390.96 an ounce at the London equities close Monday against USD1,411.62 at the close on Friday.The precious metal slipped from six-year highs as the US-China ceasefire inspired risk-on trade at the start of the week, with gold miner Fresnillo dipping 2.0%.In the FTSE 250, Future ended as the top performer, up 6.9%, after the magazine publisher said its annual results will be ahead of expectations, underpinned by good audience growth within the Media division and the continued strong performance of recent acquisitions. Aston Martin Lagonda Global Holdings closed up 2.0% at 1,025.00 pence after its largest shareholder said it is considering raising its stake in the luxury sports vehicle maker to about 34%.Strategic European Investment Group, a managed investment subsidiary of Investindustrial, said it is considering making a cash offer for another 6.8 million shares, or a 3% additional stake, in the DB9 sports car maker at 1,000 pence per share, worth GBP60.8 million.While equities benefited from Monday's risk-on mood, the pound slipped after some weak UK manufacturing data. Sterling was quoted at USD1.2649 at the London equities close Monday, compared to USD1.2705 at the close on Friday.Data from IHS Markit showed the Chartered Institute of Procurement & Supply UK Manufacturing Purchasing Managers' Index fell to 48.0 points in June from 49.4 in May, sinking further below the 50 mark which separates contraction from expansion. Meanwhile, IHS Markit showed the Eurozone Manufacturing PMI fell to 47.6 points in June, comfortably below the 50 point mark which separates contraction from expansion. The final June print was weaker than both the 47.7 reported in May and the 47.8 indicated in the flash reading for June published earlier.Germany - the largest eurozone economy - remained the weakest performer with a 45.0 points reading in June, despite hitting a four month high. Although up from the 44.3 reported in May, it was lower than the 45.4 flash estimate for June published earlier.The euro stood at USD1.1315 at the European equities close Monday, against USD1.1382 at the same time on Friday.In the US, final data showed the seasonally adjusted Manufacturing PMI posted 50.6 in June, slightly higher than the 50.5 seen in May. The reading remains above the line of 50 which separates expansion from contraction. While this reading picked up from the flash reading of 50.1, it was, nonetheless, the second-lowest figure since September 2009.In the economic calendar on Tuesday, German retail sales are at 0700 BST with Nationwide's UK house prices also due at that time. At 0930 BST is the UK construction PMI and EU producer prices are at 1100 BST. In Tuesday's UK company calendar, there are interim results from urban regeneration company St Modwen Properties and annual results from mobile technology software provider IMI Mobile. London Close is available to subscribers as an email newsletter. Contact info@alliancenews.com