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FTS's recent record breaking run stalls | |
(about 4 hours later) | |
The FTSE 100's recent record-breaking run has stalled with shares virtually unchanged on Wednesday. | |
In midday trade in London the benchmark index was down by 2 points, or 0.03%, at 7520. | |
On Tuesday the FTSE had climbed above the 7,500 level for the first time, closing at 7,522.03 points. | On Tuesday the FTSE had climbed above the 7,500 level for the first time, closing at 7,522.03 points. |
Against the US greenback the pound was worth $1.2910, compared with $1.2915 earlier in the day. But it gained 0.17% against the euro. | |
In general, a weaker pound lifts the FTSE 100 as many companies on the index have significant revenues from overseas. | In general, a weaker pound lifts the FTSE 100 as many companies on the index have significant revenues from overseas. |
A weak pound means these revenues are worth more when converted back into sterling. | A weak pound means these revenues are worth more when converted back into sterling. |
Shares in Lloyds Banking Group were up nearly 3% after the government confirmed it had shed its last remaining stake in the bank, thus returning it to the private sector. | |
Other winners included Fresnillo, Kingfisher, Pearson and DCC. | |
Shares in British Land were down 3.12% despite it posting a 7.4% rise in full-year profit. | |
Other fallers included Hikma Pharmaceuticals, Intu Properties, CRH, and Ashtead Group. |