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-37870707

The article has changed 3 times. There is an RSS feed of changes available.

Version 0 Version 1
Pound holds on to gains but FTSE falls FTSE 100 falls on US election uncertainty
(about 4 hours later)
Sterling has held on to the gains it recorded on Thursday following the High Court's ruling on Article 50. The UK's main share index fell more than 1% as uncertainty over the US election outcome hit stocks in Europe.
The ruling said Article 50 could not be invoked without Parliament's support. By late morning, the FTSE 100 was down 87.45 points at 6,703.06, with markets in Germany and France also lower.
The pound jumped more than 1% on Thursday in response as traders thought it could delay the Brexit process or change the terms of it. "European markets are tumbling once more, continuing a week of fear and uncertainty surrounding next week's election," said Joshua Mahony, market analyst at IG.
In early trade on Friday, the pound was up slightly against the dollar at $1.2471, and it rose 0.1% against the euro to €1.1232. In the US, the S&P 500 index has fallen for eight sessions in a row.
The FTSE 100, the UK's benchmark share index, was down 50.12 points, or 0.7%, at 6,740.39. Shares have come under pressure amid a narrowing of Hillary Clinton's lead in the polls over her rival Donald Trump.
Hikma Pharmaceuticals was the biggest faller on the index, down more than 7%, after HSBC cut its target price for the stock. Analysts said the FTSE 100 has also been hit by Thursday's comments from the Bank of England and the revival in the pound.
But shares in Paddy Power Betfair rose 3.5% after the gambling company increased its full-year earnings forecast. "A reversal of the monetary policy stance from the BoE coupled with questions over whether a Brexit will ever come to fruition has lit a fuse under the pound, dragging the FTSE's internationally focused firms lower," said Mr Mahony.
Hikma Pharmaceuticals was the biggest faller on the index, down more than 5%, after HSBC cut its target price for the stock.
Another faller was British Airways owner IAG, which dropped more than 4% after the airline group cut its long-term earnings forecast.
But shares in Paddy Power Betfair rose 3.8% after the gambling company increased its prediction for full-year earnings.
On the currency markets, the pound built on the gains it recorded on Thursday following the High Court's ruling on Article 50, which said the Article could not be invoked without Parliament's support.
Sterling rose 0.2% against the dollar to $1.2486, and it was 0.25% higher against the euro at €1.1250.