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The FTSE 100 (^FTSE) rose while European indices were muted on Friday, as some sense of calm returns following a week of diplomatic wrangling in Davos and beyond.
President Donald Trump moved to cancel proposed 10% tariffs on select European nations on Thursday after an attempt to take control of Greenland.
The president argued that Greenland was strategically important for security, however Denmark and other European nations said categorically that they would not hand over control of the icy territory.
This week, Trump also began to assemble his so-called Board of Peace, which will aim to help solve conflicts in the Middle East and further afield. Some nations, including the UK, declined to joined after he invited Russian leader Vladimir Putin to join.
This morning it was reported that Russian, Ukrainian and US negotiators will meet in Abu Dhabi for the first unilateral talks since Russia invaded Ukraine in 2022.
The week’s events have sent haven assets such as gold (GC=F) to all-time highs. The yellow metal traded sideways although was close to the $5,000 per ounce mark.
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London’s premier index ticked up 0.3% after the opening bell. Defence-related stocks such as Rolls-Royce (RR.L) and BAE Systems (BA.L) were among the top gainers in early trade.
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The DAX (^GDAXI) in Germany fell just below the flatline.
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The CAC 40 (^FCHI) in France declined about 0.1%.
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The pan-European STOXX 600 (^STOXX) dipped 0.1%.
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The pound was almost flat against the dollar (GBPUSD=X), hovering around the $1.35 mark.
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