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WPP gains fail to lift FTSE 100 | |
(about 5 hours later) | |
A strong performance from shares in advertising giant WPP failed to lift London's main share index. | |
Shortly after midday, the FTSE 100 was down 32.72 points at 6,963.54. | |
Shares in clothing retailers were coming under pressure, with Next shares down 3.4% ahead of its trading statement later this week. | |
WPP was the biggest riser on the FTSE 100, up 3.9%, despite seeing UK sales growth slow, which it said could be "the first signs of Brexit anxiety". | |
However, revenues at the company were boosted by the weaker pound. | However, revenues at the company were boosted by the weaker pound. |
Overall sales for the July-to-September period went up 23.6% to £3.1bn. But when adjusted to take account of currency moves, the increase was just 7.8%. | Overall sales for the July-to-September period went up 23.6% to £3.1bn. But when adjusted to take account of currency moves, the increase was just 7.8%. |
On the currency markets, the pound remained relatively unmoved by speculation over the future of Bank of England governor Mark Carney, following reports at the weekend that he might step down from the role in 2018. | |
Against the dollar, the pound was 0.2% lower for the day at $1.2170, while it rose 0.2% against the euro to €1.1118. |