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FTSE 100 Live: Pound Sinks Closer to $1.23, UK Stocks Set to Rise
FTSE 100 futures are up 0.2%, pointing to a second day of gains for the index after it avoided the selloff that hit the midcap FTSE 250 yesterday. The latter closed 2% lower, its worst decline since the selloff in August and at the weakest level since May.
FTSE closes higher as pound falls to 14-month low after bond sell-off
A weak pound ( GBPUSD=X) managed to help the FTSE 100 ( ^FTSE) outperform against its European peers on Thursday, with the currency hitting a 14-month low in early trading. Sterling has lost a cent against the US greenback, extending its recent losses and falling below $1.23 to its lowest level since November 2023.
FTSE 100 Live: London stocks volatile as pound slumps to 2023 levels, M&S and Greggs tumble
The Greggs PLC (LSE:GRG) update has seen its shares crumble 10% to the lowest since October 2023. Analyst Darren Shirley at Shore Capital says the year-end statement "is softer than our expectations" as it reflects what the company calls "more subdued" high street footfall.
FTSE 100 Live: Bond Yields Rise as Pound Falls Below $1.24
FTSE 100 futures are about flat following a tepid day for the index yesterday too. The FTSE 250 fell by 1.3% in Tuesday’s session, hitting the lowest level since November. The pound is edging higher but remains short of $1.25, and keep a close eye on gilt markets after 30-year yields hit the highest level since 1998.
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