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FTSE 100 Little Changed After Cohn's Resignation

U.K. stocks were little changed on Wednesday after White House chief economic adviser Gary Cohn, an advocate for free trade, resigned from the Trump administration, raising concerns that Trump will go ahead with his plan to impose tariffs and risk a trade war.

Renewed worries about the potential impact of a trade war overshadowed easing geopolitical concerns after North Korea said it is willing to talk about denuclearization.

The benchmark FTSE 100 was marginally higher at 7,151 in late opening deals after rising 0.4 percent on Tuesday.

Royal Bank of Scotland Group shed half a percent after it reached a $500 million settlement with New York State to resolve claims over its sale of risky mortgage securities.

Sainsbury inched up 0.4 percent on reports the supermarket group is increasing basic pay for its shopfloor staff.

Rolls Royce Holdings jumped more than 12 percent after the plane engine maker reported 2017 profit before tax of 4.9 billion pounds, a material increase over the 2016 loss of 4.6 billion pounds.

WPP dropped 1.7 percent after reports that Procter & Gamble is accelerating its efforts to transform the business of marketing.

by RTTNews Staff Writer

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