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FTSE 100 and pound regain ground FTSE 100 and pound lose more ground
(about 4 hours later)
(Open): London's leading shares opened higher, bouncing back from Monday's widespread sell-off. (Noon): London's shares slid in morning trade, dashing hopes of a recovery from Monday's widespread sell-off.
Shortly after the start of trading, the FTSE 100 was up 31.4 points or 0.46% at 6,849.44, led by travel group Tui, which added 1.8%. The FTSE 100 index rose at the start of the day, but by lunchtime it was down 9.77 points or 0.14% at 6,808.27.
On Monday, the index fell 1.32%, with only a few stocks rising, while the pound flirted with its lowest level against the euro since Brexit.On Monday, the index fell 1.32%, with only a few stocks rising, while the pound flirted with its lowest level against the euro since Brexit.
In early Tuesday trading, sterling rose 0.22% against the euro to €1.1555. In Tuesday morning trading, sterling was little moved against the euro at €1.1528.
Against the dollar, it was up 0.22% at $1.3003. Against the dollar, it was down 0.09% at $1.2964.
The worst performer on the FTSE 100 on Tuesday was plumbing and building supplies firm Wolseley, which fell 4.6% after announcing plans to close 80 branches and cut 800 UK jobs. The worst performer on the FTSE 100 on Tuesday was plumbing and building supplies firm Wolseley, which fell 4.3% after announcing plans to close 80 branches and cut 800 UK jobs.