Day export boom sent shares soaring: Falling pound lifts blue-chip earnings as FTSE 250 hits record
A SLUMP in the pound drove the London stock market towards a new record high last night as shares in companies with overseas earnings rallied.
Sterling hit a 31-year low against the dollar of $1.2721 and a five year low against the single currency of €1.1364 – taking its losses since the Brexit vote to more than 14 per cent and 13 per cent respectively.
But a report suggested that the slump in the pound has boosted British exports by making goods in UK factories cheaper for foreign buyers.
It has also put a rocket under the share price of some of the biggest companies listed on the stock... read more
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