FTSE 100 hits record high as pound continues to fall



The FTSE 100 has hit a record high as the pound tumbled further on Brexit jitters.
The UK’s top-flight index reached 7,129.83 points in mid-session trading – beating its previous record intraday high of 7,122.74, set in April 2015.
Shares have been surging higher while sterling has taken a battering since the Brexit vote, as many of the listed multinational companies benefit from earnings in stronger foreign currencies.
Against the US dollar, sterling dropped more than 0.8 per cent to trade as low as $1.225 today. The pound also fell against the euro, down about 0.3 per cent to €1.106.
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11 October 2016 in Business, Views: 32
Source: Scotsman
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