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Fourth of July slams the brakes on London markets

London markets edged up on a quiet morning’s trading as Independence Day put the brakes on the FTSE 100.

The U.K.’s blue-chip index was subdued on Thursday with U.S. markets closed for Fourth of July celebrations.

The holiday stopped the FTSE 100’s momentum after strong gains earlier this week following a trade war truce between the U.S. and China and Christine Lagarde’s nomination to replace Mario Draghi as European Central Bank president.

What’s moving the markets?

China Commerce Ministry spokesman Gao Feng said existing U.S. tariffs must be removed for a trade deal to be struck but confirmed the two nations had restarted negotiations.

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