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FTSE 100 recovers to reach another record close | |
(about 9 hours later) | |
London's leading shares recovered from early falls on Friday to reach yet another closing high. | |
The FTSE 100 edged up by 0.2%, or 14.74 points, to 7,210.05, a seventh consecutive record close. | |
The index has been benefiting from the fall in the pound against the dollar, as many of the firms are international and make their profits in dollars. | |
On the currency markets, the pound was down 0.8% against the dollar at $1.2313. | |
And against the euro it fell 0.43% to €1.1659. | |
On the stock market, the leading shares were defence group BAE Systems and Lloyds Banking Group. | |
Neil Wilson from ETX Capital pointed out that Friday's close means the index has risen for five consecutive weeks - the best performance since the Brexit vote in June. |
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