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Provident leads FTSE 100 higher again FTSE 100 closes lower after Yellen speech
(about 5 hours later)
Shares in troubled doorstep lender Provident Financial have risen for the third day in a row, following their 66% plunge on Tuesday. Shares in London turned south after a key speech by the US central bank chairman.
In Friday morning trading, the stock was up 20%, bolstered by news of a management shake-up at the firm. In it, she said existing banking rules should be left largely as they were. US president Donald Trump has called these rules a "disaster".
Overall, the benchmark FTSE 100 index was down 5.6 points at 7,401.46.
Shares in troubled doorstep lender Provident Financial rose 22% - their third increase in a row, following their 66% plunge on Tuesday.
The stock was bolstered by news of a management shake-up at the firm.
Tuesday's slump was prompted by the company's second profit warning in three months.Tuesday's slump was prompted by the company's second profit warning in three months.
Overall, the benchmark FTSE 100 index was up 27.6 points or 0.37% at 7,434.66 points.
Provident rose 13% on Thursday and 12% on Wednesday.Provident rose 13% on Thursday and 12% on Wednesday.
Friday's trading was not so rosy for advertising giant WPP, another firm that has seen big losses this week.Friday's trading was not so rosy for advertising giant WPP, another firm that has seen big losses this week.
Its shares fell 11% on Wednesday after it reported slowing sales, then rose 2.9% on Thursday. But on Friday it was back in the losers' table, shedding 1.4%. Its shares fell 11% on Wednesday after it reported slowing sales, then rose 2.9% on Thursday. But on Friday it was back in the losers' table, shedding 1.7%.
On the currency markets, the pound was up 0.28% against the dollar at $1.2837 and up 0.15% against the euro at 1.0862 euros. On the currency markets, the pound gained on the dollar's fall post that Yellen speech.
It was up 0.61% at $1.2879 and rose 0.04% against the euro at 1.0842 euros.