Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

MarketScreener Homepage  >  Indexes  >  FTSE 100 Index    F100   GB0001383545

FTSE 100 INDEX (F100)
My previous session
Most popular
News SummaryAll newsNews of the components ofTweets

LONDON MARKETS : FTSE 100 Rises As Pound 'falls Out Bed' On

share with twitter share with LinkedIn share with facebook
share via e-mail
10/06/2017 | 10:11am CEST

By Sara Sjolin, MarketWatch

Sterling set for worst week since flash crash a year ago

U.K. stocks headed higher on Friday, boosted by a weaker pound, which slid further on growing speculation that the government will call a snap election.

The FTSE 100 index rose 0.1% to 7,517.55, rising for a seventh session in the past eight. For the week, the London benchmark was on track for a 1.9% gain, which would be its biggest weekly advance since early August.

Meanwhile, the pound slumped to $1.3078, down from $1.3118 late Thursday in New York. Sterling is now set for a 2.5% weekly tumble, its biggest since the week ending Oct. 7, 2016, when the currency lost 4.1% against the dollar after a flash crash.

Against the euro, the pound fell to EUR1.1183, down from EUR1.1202 on Thursday.

"The British pound has fallen out of bed since the end of the Conservative party conference. Luckily for U.K. investors, the pound's negative correlation with returns on blue-chip stocks is going strong," said Jasper Lawler, head of research at London Capital Group, in a note.

He noted that the sterling slump isn't just a reflection of dollar strength, as the fall against the euro indicates the issues are more local.

"MPs' confidence in Theresa May is at a low point. But having made it through the poor election result, it would seem daft for her to quit, in effect because she had a cold. If May can hang on, the pound is due a correction of recent losses, at least against the euro," he added.

The pound's tumble comes after U.K. Prime Minister Theresa May's "disastrous" speech at the Tory party conference on Wednesday and continued gridlock with Brussels over Brexit. The combination has led to growing speculation the U.K. leader will resign and call an early, or "snap," election. The Brits headed to the polls as recently as June, when May's gamble in calling a snap vote failed and her party lost its parliamentary majority.


The dollar on Friday traded higher as traders waited for the closely watched U.S. nonfarm payrolls report. The monthly jobs data is due out at 8:30 a.m. Eastern Time, or 1:30 p.m. London time.

Stock movers: Shares of EasyJet PLC (>> EasyJet) fell 1.3% after the discount airline said it expects profit for fiscal 2017 to be at the upper end of its guidance range, but also highlighted pressures facing the sector.

CRH PLC fell 1.4% after U.S. cement maker Ash Grove Cement Co. (ASHG) on Thursday said it received a takeover proposal valued at up to $3.8 billion, topping the $3.5 billion offer made by CRH in September.

Stocks mentioned in the article : EasyJet
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on FTSE 100 INDEX
10/19LONDON MARKETS: FTSE 100 Bucks Weaker European Trend To End Higher As Oil Com..
10/19EUROPE MARKETS: Italy's Stock Market Ends Volatile Session Flat As Budget Dra..
10/19FTSE : Intercontinental, Easyjet lead Britain's FTSE lower
10/18EUROPE MARKETS: European Bourses End The Session In The Red As Global Stocks ..
10/18LONDON MARKETS: FTSE Extends Decline As Pound Trades Flat Amid Brexit Uncerta..
10/18John Wood Group Wins Contract With IRPC in Thailand
10/18Ex-Ladbrokes CFO leaves GVC months after merger
10/17EUROPE MARKETS: Europe's Key Stock Index Ends Lower With Brexit 'moment Of Tr..
10/17LONDON STOCK EXCHANGE : FTSE 100 rises, led by Pearson; Mediclinic sinks as earn..
10/16EUROPE MARKETS: Italian Stocks Surge, Notch Best Day In 5 Weeks Amid EU Budge..
More news
News of the components of FTSE 100 INDEX
01:33aLLOYDS BANKING : A 60-minute commute can save 60% on house prices
12:28aINTERCONTINENTAL HOTELS : revenue up 1% in Q3
10/19UNILEVER : certified as Africa’s top employer of labour
10/19ROYAL DUTCH SHELL PLC : Transaction in Own Shares
10/19Air France inks pay deal in milestone for new CEO
10/19HSBC : EU and Singapore boost trade
10/19SHIRE : Form 8.5 (EPT/RI) - Replacement of SHIRE PLC
More news
Chart FTSE 100 INDEX
Duration : Period :
FTSE 100 Index Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FTSE 100 INDEX
Short TermMid-TermLong Term
Top / Flop FTSE 100 INDEX
RANDGOLD RESOURCES 6082 Delayed Quote.5.15%
FRESNILLO 912.2 Delayed Quote.4.08%
IMPERIAL BRANDS 2587 Delayed Quote.2.80%
BT GROUP 242.4 Delayed Quote.2.76%
GLAXOSMITHKLINE 1463.6 Delayed Quote.2.39%
STANDARD LIFE ABERDEEN 269.6 Delayed Quote.-1.86%
MARKS & SPENCER GROUP 292.8 Delayed Quote.-1.91%
MELROSE INDUSTRIES 165.65 Delayed Quote.-2.84%
OCADO GROUP PLC 789.8 Delayed Quote.-2.88%
BAE SYSTEMS 561.8 Delayed Quote.-3.83%
Heatmap :