Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Indexes  >  FTSE 100 Index    F100   GB0001383545

SummaryChartsNewsAnalysisHeatmapComponents 
News SummaryAll newsNews of the components ofTweets

LONDON MARKETS : FTSE 100 Slips As The Pound Hits 3-week High

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/20/2017 | 10:29am CEST

By Carla Mozee, MarketWatch

But blue-chip index still above 2,400, after reaching record closes last week

U.K. stocks declined Monday, as a rise in the pound to a three-week high weighed on the FTSE 100, which twice hit record levels last week.

The FTSE 100 fell 0.2% to 7,411.20, with oil and gas, health care and financial shares among those losing ground. On Friday, the London benchmark added 0.1% to 7,424.96, a new record closing high. That was the index's second close at a record in a row, and those moves helped the blue-chip gauge gain 1.1% for the week.

This week started with the pound buying $1.2415, up from $1.2397 late Friday in New York. That is the highest level for the pound since Feb. 27, when it hit $1.244, according to FactSet.

Blue-chip stocks tend to rise when the pound falls, as it boosts the prospects of stronger earnings and sales for multinationals that trade overseas.

The "pound is caught between last week's dovish [rate] hike from the Fed, the Bank of England's non-unanimous rate vote, where Kristen Forbes signaled that she believes an increase is in order, and Tuesday's inflation figure, which is set to cross the BOE's long-held 2% target," said Connor Campbell, financial analyst at Spreadex.

"The FTSE didn't respond particularly well to this movement," although it's still hovering near 7,400, he added in his note.

G-20 fallout: There was also gloom over the equity market following the weekend's Group of 20 meeting of finance ministers and central bankers in Baden-Baden, Germany.

The "G-20 meeting revived worries about the U.S.'s trade protectionism as finance chiefs were brought to drop a reference to fight protectionism in their joint statement," said Ipek Ozkardeskaya, senior market analyst at London Capital Group, in a note.

"Several leaders were left frustrated with the U.S.'s position regarding the global trade under Trump administration, including China, Japan, Russia, Germany and France," she said.

Stocks in focus: Vodafone Group PLC (>> Vodafone Group plc) reached a deal to merge most of its Indian operations with Idea Cellular Ltd . (532822.BY), the country's third-largest mobile operator. Shares of Vodafone were fractionally higher.

Unilever PLC (>> Unilever plc) is looking at a GBP6 billion sale of its spreads business, which includes the Flora and Stork brands, according to a Sunday Times report (http://www.thetimes.co.uk/article/unilever-lines-up-6bn-sale-of-flora-and-stork-87bxxlnd2).. Shares were up 0.2%.

Stocks mentioned in the article : Vodafone Group plc, Unilever plc
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FTSE 100 INDEX
06/21LONDON STOCK EXCHANGE : FTSE falls after BoE vote fuels expectations of Aug rate..
RE
06/21LONDON MARKETS: FTSE 100 Drops As Oil Shares Extend Losses; Pound Rallies On ..
DJ
06/21EUROPE MARKETS: Auto Makers, Italian Stocks Drag European Shares Lower
DJ
06/21M&S Partners With Microsoft in Bid to Become a Digital-First Retailer
DJ
06/21LEGAL & GENERAL : L&G aims for 8-10 percent profit growth from fund business
RE
06/20LONDON STOCK EXCHANGE : Easing trade worries help FTSE climb while Berkeley tumb..
RE
06/20EUROPE MARKETS: European Stocks Stage Recovery, But U.S.-China Trade Tensions..
DJ
06/20LONDON MARKETS: FTSE 100 Ends Higher, Rising From 6-week Low As Ocado, Tobacc..
DJ
06/19EUROPE MARKETS: European Stocks Finish At 3-week Low As U.S.-China Trade Tens..
DJ
06/19LONDON MARKETS: FTSE 100 Logs 3rd Straight Drop As U.S.-China Trade Fight Int..
DJ
More news
News of the components of FTSE 100 INDEX
03:03aHSBC : Transaction in own shares 21 June 2018 - Announcement made to the HK stoc..
PU
01:13aCRH : Transaction in Own Shares
PU
01:06aLLOYDS BANKING : British lawmakers call for probe of Lloyds, KPMG over HBOS frau..
RE
06/21SUIT : Offshore drilling done in absence of required report
AQ
06/21NATIONAL GRID : Releases Northeast 80x50 Pathway
AQ
06/21GLAXOSMITHKLINE : Research Conducted at GlaxoSmithKline plc Has Provided New Inf..
AQ
06/21UNILEVER : Researchers from Unilever Provide Details of New Studies and Findings..
AQ
More news
Chart FTSE 100 INDEX
Duration : Period :
FTSE 100 Index Technical Analysis Chart | F100 | GB0001383545 | 4-Traders
Technical analysis trends FTSE 100 INDEX
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Top / Flop FTSE 100 INDEX
SHIRE 4088 Delayed Quote.1.95%
SKY 1405 Delayed Quote.1.81%
BRITISH AMERICAN TOBACCO 3839 Delayed Quote.1.59%
NEXT 5936 Delayed Quote.1.26%
SMITH & NEPHEW 1383 Delayed Quote.0.51%
BERKELEY 3780 Delayed Quote.-2.90%
TAYLOR WIMPEY 178.25 Delayed Quote.-2.94%
PERSIMMON 2530 Delayed Quote.-3.07%
BARRATT DEVELOPMENTS 517.8 Delayed Quote.-3.75%
UNITED UTILITIES 739.2 Delayed Quote.-6.17%
Heatmap :