British stocks closed higher yesterday, recovering from the previous week's losses as the focus turned to the upcoming second-quarter earnings season, although a continued rise in coronavirus cases kept sentiment subdued. The blue-chip FTSE 100 closed 1.3pc higher, pushed up by heavyweight mining stocks Rio Tinto and BHP Group. While second-quarter earnings are broadly expected to paint a dismal picture, markets will look to corporate guidance on how a post-Covid-19 recovery will pan out. "July and August are generally weaker months for markets, but this time they are being pushed higher on liquidity infusion, upbeat corporate earnings updates and positive news on the Covid-19 vaccine," said Keith Temperton, analyst at Lombard Forte. Brexit negotiations are also back in focus ahead of the December 31 end of the transition period, when Britain will leave the EU.

Source: Irish Independent July 14, 2020 01:30 UTC