The FTSE 100 is trading slightly higher on Tuesday morning after a suspected terrorist attack in Manchester late on Monday evening.
At least 22 people have died and over 50 are injured following an explosion at an Ariana Grande concert at Manchester Arena. Police say one person set off an improvised explosive device at the arena. The unnamed person died at the scene.
The FTSE 100 has passed back above the psychologically significant 7,500 point mark, climbing just over 0.1% on Tuesday morning. The pound is dipping slightly against the euro and dollar at the same time. The pound’s weakness against the dollar is supporting the FTSE 100. Many of the index’s constituents report their earnings in dollars, meaning a weak sterling makes their stock look cheap.
Mike van Dulken, head of research at Accendo Markets, says in an email: “This latest horror merely adds to a melting pot of UK frustration as the country deals with ugly election campaigning before a June 8 snap general election and what is sure to be even uglier Brexit negotiations that begin just weeks after.
“The UK FTSE is holding up for the moment thanks to fresh GBP weakness as the US Dollar finds support following its Trump-induced sell-off.”
Here's how the FTSE 100 looks by around 8.45 a.m BST (3.45 a.m. ET)
Elsewhere in Europe, markets are broadly higher after strong PMI numbers coming out of France and Germany. "Private sector output in Germany expanded at the sharpest rate in over six years in May," according to flash PMI data from IHS Markit, while French output also hit its highest rate of expansion in six years.
Here is the scoreboard:
