FTSE LIVE: London shares rise again above 7,000 as pound slips after 'flash crash'
9:00: The Footsie opened 0.5 per cent higher at 7,037.99 as a sharp fall in the pound overnight is expected to benefit big international companies listed in the index which earn much of their revenues in dollars.
The pound suffered a mystery flash crash overnight as it appeared to dive by 10 per cent in seconds before swiftly recovering, as Asian stock markets opened, falling to a new 31-year low.
What was believed to be an outlying rogue trade took the pound down from around $1.26 to $1.1378. The low for the pound was then revised, although this still delivered a crash of 6 per cent to... read more
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