UKX FTSE 100 Index

By Carla Mozee and Victor Reklaitis, MarketWatch

Unilever falls after London HQ news; Tesco gains on ratings upgrade

U.K. blue-chip stocks finished with a slight gain Thursday, helped by advances for supermarket giant Tesco PLC after a ratings upgrade. The rise comes after a string of losses that were spurred in part by fears of a global trade war.

Unilever PLC was in focus, after the maker of Ben & Jerry's ice cream and other consumer brands chose Netherlands over the U.K. for its single corporate headquarters.

How markets are moving

The FTSE 100 index rose 0.1% to end at 7,139.76. On Wednesday, the benchmark shed 0.1% (http://www.marketwatch.com/story/ftse-100-finds-higher-ground-as-miners-find-cheer-in-china-data-2018-03-14) to mark a ()third loss in a row.

The pound bought $1.3936, slightly down from $1.3961 late Wednesday in New York.

What's driving markets

Investors were seen scooping up stocks after a run of declines, including in Wednesday's session, when U.K. stocks turned lower alongside U.S. indexes . Wall Street's selloff () was led by falls for major industrial stocks, after the White House said it will seek to trim the U.S.'s trade deficit with China by $100 billion, using tariffs.

Trade-war fears have been putting pressure on global markets in recent sessions as U.S. President Donald Trump ordered tariffs on steel and aluminum imports.

What strategists are saying

"There is a cautious consolidation across markets, as traders take stock once more following renewed fear of U.S. protectionism and trade wars," said Richard Perry, market analyst at Hantec Markets.

"Disputes are also not confined to the trade of goods, with a political dispute between the U.K. and Russia also taking hold after the U.K. has accused Russia of what amounts to be a chemical weapons attack on British soil. Perhaps the next leg will be taken when there is more clarity on China trade tariffs from the U.S. administration," Perry said in a note.

Read more:U.S. joins U.K. in condemning Russia over poison attack on ex-spy (http://www.marketwatch.com/story/us-joins-uk-in-condemning-russia-for-poison-attack-on-ex-spy-2018-03-15)

Stock movers

Unilever PLC's London-listed stock (ULVR.LN)(UNA.AE) was down 1.7% after the consumer-goods heavyweight said it would consolidate its dual headquarters in Rotterdam, (http://www.marketwatch.com/story/unilever-chooses-rotterdam-over-london-for-hq-2018-03-15) rather than in London. The decision was made despite last-minute lobbying by the U.K. government, which has argued that its planned Brexit from the European Union will be positive for the country.

The Anglo-Dutch company also said it would restructure its operations into three divisions with separate headquarters, with Unilever's beauty and personal care, and home care units based in London.

Tesco shares (TSCO.LN) climbed 1.8% after the supermarket was upgraded to overweight at J.P. Morgan, according to Dow Jones Newswires.

(END) Dow Jones Newswires

March 15, 2018 13:01 ET (17:01 GMT)

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