This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-37858010

The article has changed 5 times. There is an RSS feed of changes available.

Version 0 Version 1
FTSE 100 higher ahead of Bank report Pound jumps in wake of Brexit ruling
(about 3 hours later)
(Open): The FTSE 100 and the pound rose as markets waited for the latest forecasts from the Bank of England. Sterling has risen sharply following the High Court ruling on Article 50, while the FTSE 100 has fallen back.
The Bank will release its latest inflation report at midday, and also announce any changes to interest rates. The pound was up 1% at $1.2421 in the wake of the decision, but the FTSE 100 shed 16 points to 6,821 points.
Few analysts expect the Bank to cut its key rate from 0.25%, but it is expected to raise its forecast for UK economic growth and inflation. The court ruling has "made triggering Brexit a lot trickier and has given sterling a massive shot in the arm," said Neil Wilson at ETX Capital.
In early trade, the benchmark FTSE 100 index was up 9.42 points, or 0.1%, at 6,854.84. The Bank of England's latest inflation report, released at midday, could also affect sterling.
On the currency markets, the pound rose 0.3% against the dollar to $1.2335 and climbed 0.2% against the euro at €1.1114. The Bank is also expected to leave interest rates on hold at 0.25%, but should raise its forecast for UK economic growth and inflation.
Shares in Morrisons, rose 1.4% after the UK's fourth largest supermarket reported another rise in sales. The pound also climbed 1.3% against the euro to €1.1232.
Underlying sales rose 1.6% in the third quarter, meaning the supermarket has now reported four consecutive quarters of growth. Connor Campbell of Spreadex said that the ruling will be challenged in the Supreme Court next month.
"Even if it does go to a parliamentary vote, it is unlikely MPs will want to be seen as going against the referendum result by blocking the enacting of Article 50. Nevertheless the pound was due some good news, and it has certainly taken advantage of this brief glimmer of hope," he added.
The biggest riser on the FTSE 100 was Royal Bank of Scotland, up 6.3%, while Randgold Resources was the biggest faller, shedding 6.7%.
Shares in Morrisons, rose 2.1% after the UK's fourth-largest supermarket reported another rise in sales.
Underlying sales rose 1.6% in the third quarter, meaning the chain has now reported four consecutive quarters of growth.