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    UKX   GB0001383545

FTSE 100

(UKX)
Delayed Great Britain  -  11:35 2022-11-28 am EST
7474.02 PTS   -0.17%
After hours
 0.00%
7474.02 PTS
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FTSE 100 drops on stronger sterling after surprise economic growth

07/13/2022 | 03:42am EST
FILE PHOTO: A man shelters under an umbrella as he walks past the London Stock Exchange

(Reuters) - UK's blue-chip FTSE 100 fell on Wednesday, dented by strength in sterling as Britain's economy grew unexpectedly in May, while J D Wetherspoon tumbled after the pub operator forecast losses.

The FTSE 100, which houses several global companies that draw a large part of their revenue in dollar, dropped 0.8% as sterling rose 0.3%. [GBP/]

Data showed Britain's economy grew unexpectedly in May, driven by a rise in doctor appointments and demand for holidays, likely reassuring the Bank of England about its plans to keep on raising interest rates.

The wider European markets also fell ahead of U.S. data expected to show another surge in inflation. The domestically focussed FTSE 250 index slipped 0.2%.

Pub operator J D Wetherspoon slid 6.2% after it warned of losses this year due to higher labour and marketing costs and said quarterly sales were slightly lower than pre-pandemic levels as customers drank less beer at its pubs.

Peers Mitchells & Butlers and Marston's slipped almost half a percent each.

Asset manager Abrdn fell 3.6% after Barclays downgraded the stock to "underweight".

(Reporting by Sruthi Shankar in Bengaluru; Editing by Arun Koyyur)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ABRDN PLC -3.45% 206.9 Delayed Quote.-14.11%
BARCLAYS PLC -0.55% 158.18 Delayed Quote.-15.41%
FTSE 100 -0.17% 7474.02 Delayed Quote.1.38%
FTSE MID 250 INDEX -1.30% 19292.35 Delayed Quote.-16.76%
J D WETHERSPOON PLC -1.25% 457.2 Delayed Quote.-52.42%
MARSTON'S PLC 0.94% 40.6 Delayed Quote.-47.27%
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Chart FTSE 100
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FTSE 100 Technical Analysis Chart | MarketScreener
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Technical analysis trends FTSE 100
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Rankings
FLUTTER ENTERTAINMENT PLC 11945 Delayed Quote.1.27%
RECKITT BENCKISER GROUP PLC 5968 Delayed Quote.1.15%
PEARSON PLC 990.2 Delayed Quote.1.14%
UNILEVER PLC 4155 Delayed Quote.1.01%
CENTRICA PLC 94.82 Delayed Quote.0.94%
ROLLS-ROYCE HOLDINGS PLC 88.62 Delayed Quote.-2.45%
OCADO GROUP PLC 633.8 Delayed Quote.-2.46%
MELROSE INDUSTRIES PLC 129.95 Delayed Quote.-3.42%
PERSIMMON PLC 1279.5 Delayed Quote.-3.69%
ADMIRAL GROUP PLC 2034 Delayed Quote.-4.42%