text

FTSE 100 rebounds and sterling rises

Business News

BUSINESS / Business News 45 Views comments

FTSE 100 rebounds and sterling rises

  • 19 May 2017
  • From the section Business
Market trader (file picture)Image copyright Getty Images

London's main share index has notched up its fourth straight week of gains. having recovered some of the ground lost in the past two days.

At the close on Friday, the FTSE 100 was up 34.29 points at 7,470.71.

The FTSE fell on Wednesday and Thursday as markets were hit by the uncertainty surrounding the Trump presidency.

The row over the firing of FBI director James Comey led to growing scepticism about Mr Trump's ability to deliver tax and regulatory reform.

But the FTSE 100 saw a broad-based recovery on Friday, with software and IT firm Micro Focus International leading the way - up 2.7%.

The biggest faller on the index was Smiths Group, down 2.8% after announcing that chief financial officer Chris O'Shea was stepping down.

On the currency markets, the pound rebounded back above the $1.30 mark. On Thursday, it had reached an eight-month high of $1.3048 after the release of stronger-than-expected retail sales figures, but fell back in late trade.

However, on Friday it was trading at $1.3029. Against the euro, the pound was down slightly at 1.1643 euros.

Like

Share

Comments