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FTSE 100 rises as sterling weakens | |
(35 minutes later) | |
London's stock market began the week higher as the pound fluctuated around the $1.30 mark. | |
Shortly after midday, the FTSE 100 was up 39.41 points at 7,510.12. | |
Shares in product testing company Intertek led the index higher, up 2.4%, after analysts at Kepler Cheuvreux raised their rating on the company to "buy" from "hold". | |
Shares in Marks and Spencer rose 1.8% ahead of the High Street giant's results on Wednesday. | |
Worldpay Group was the biggest faller on the index, down 3.4%, after Bryan Garnier cut its rating on the company to "sell" from "neutral". | |
A change in broker ratings was also behind a 3.2% rise in Cairn Energy's shares. The FTSE 250 company was boosted after Macquarie lifted its rating to "outperform" from "neutral". | |
On the currency markets, the pound fell back below the $1.30 mark in early trade, but then recovered to stand at $1.3010, still down 0.2% for the day. Against the euro, sterling slid 0.5% to 1.1573 euros. |