London’s FTSE 100 pressured by pound after surprise Q2 GDP growth
London’s exporter-heavy FTSE 100 index opened lower on Friday, pressured by a stronger pound after data showed the UK’s economy surprisingly grew higher-than-expected in the second quarter. Data showed Britain eked out unexpected growth in the second quarter, helped by a strong June performance. It grew 0.2% in the second quarter, against the consensus for a flat reading in a Reuters poll of economists. The FTSE 100 fell 0.6%, while the sterling broke three straight days of losses after the data. London stocks edge lower at open, Unite Group slips “Any lingering fears that the UK economy is set to fall into a recession will likely have been put to bed now with these numbers,” said Stuart Cole, chief macro economist at Equiti Capital. The more domestically-focussed FTSE 250 index edged 0.2% down. Miners dropped 1.1%, leading sectoral declines as metal prices fell.
Karobar
London’s exporter-heavy FTSE 100 index opened lower on Friday, pressured by a stronger pound after data showed the UK’s economy surprisingly grew higher-than-expected in the second quarter.
Data showed Britain eked out unexpected growth in the second quarter, helped by a strong June performance.
It grew 0.2% in the second quarter, against the consensus for a flat reading in a Reuters poll of economists.
The FTSE 100 fell 0.6%, while the sterling broke three straight days of losses after the data.
London stocks edge lower at open, Unite Group slips
“Any lingering fears that the UK economy is set to fall into a recession will likely have been put to bed now with these numbers,” said Stuart Cole, chief macro economist at Equiti Capital.
The more domestically-focussed FTSE 250 index edged 0.2% down.
Miners dropped 1.1%, leading sectoral declines as metal prices fell.
