LONDON MARKETS: FTSE 100 Falls As Talk Of Brexit Delay Rallies Pound

Data : 11/01/2019 @ 15:03
Fonte : Dow Jones News
Titolo : FTSE 100 (UKX)
Quotazione : 6901.39  -69.2 (-0.99%) @ 17:35
Quotazione FTSE 100 Grafico

LONDON MARKETS: FTSE 100 Falls As Talk Of Brexit Delay Rallies Pound

Grafico Azioni Taylor Wimpey (LSE:TW.)
Storico

1 Mese : Da Dic 2018 a Gen 2019

Clicca qui per i Grafici di Taylor Wimpey

By Emily Horton

Report says delay to March 29 deadline increasingly likely

London's main equity benchmark slipped into the red on Friday, as the pound climbed on a report that the British government was more likely to delay a key Brexit vote for fear that it would fail.

What did markets do?

Giving up earlier gains, the U.K.'s FTSE 100 fell 0.3% to 6,923.93, after finishing up 0.5% on Thursday. The index is looking at a 1.3% gain for the week.

That loss came as the pound charged up to $1.2802 from $1.2749 late in New York Thursday.

What is driving the markets?

(http://www.marketwatch.com/story/us-gains-312000-jobs-in-final-month-of-2018-soaring-above-wall-street-forecast-2019-01-04)The pound spiked (http://www.marketwatch.com/story/british-pound-climbs-as-likelihood-of-brexit-delay-rises-2019-01-11) on a report in the Evening Standard that said Prime Minister Theresa May's cabinet members saw the likelihood of a Brexit delay rising. The U.K. Parliament is slated to vote on her Brexit deal on Jan. 15, but market participants aren't sure she can shore up enough votes.

A stronger pound can weigh on the FTSE 100, as the index's multinational companies generate most of their sales in other currencies.

An influential lobby group for U.K. businesses will on Friday warn that a crash-out Brexit, without a trade pact in place, would shrink the country's economy by 8% and put thousands of jobs at risk (https://www.fnlondon.com/articles/brexit-brief-business-lobby-warns-of-risks-to-thousands-of-uk-jobs-20190111). On Thursday, the ratings agency S&P Global Ratings said it could reassess its guidance on U.K. banks if the country is forced into a disorderly exit from the EU.

Investors also got data that showed Britain's economy slowed in the three months leading to November, official data from the Office of National statistics showed on Friday. Expansion was at its slowest pace in six months as factories suffered from difficult trade conditions ahead of Brexit, Reuters reported (https://uk.reuters.com/article/uk-britain-economy/uk-economic-growth-hits-six-month-low-manufacturing-slides-idUKKCN1P50X7).

London was also lower as Wall Street was pointing to a weaker session and most of European markets were in the red.

What stocks are active?

Home builders were leading gainers (TW.LN)after upbeat results from (http://www.marketwatch.com/story/taylor-wimpey-expects-one-off-charge-over-pensions-2019-01-09)with Taylor Wimpey PLC (TW.LN) on Thursday. Taylor Wimpey and Persimmon PLC (PSN.LN) shares rose 5% each.

Rolls-Royce Holdings PLC (RR.LN) gained 1.4%.

Downside pressure came from oil companies, with Royal Dutch Shell PLC A (RDSA.LN) (RDSA.LN) off 0.5% and BP PLC (BP.LN) (BP.LN) down 0.6%. Those losses came as oil prices gave up an earlier lead (http://www.marketwatch.com/story/oil-prices-lifted-for-10th-day-as-dollar-softens-2019-01-11) and turned negative.

Software company Sage Group PLC (SGE.LN) dropped nearly 2%.

 

(END) Dow Jones Newswires

January 11, 2019 08:48 ET (13:48 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
La tua Cronologia
BIT
BMPS
Monte Pasc..
BITI
FTSEMIB
FTSE Mib
BIT
UCG
Unicredit
NASDAQ
AAPL
Apple
FX
EURUSD
Euro vs Do..
Le azioni che visualizzerai appariranno in questo riquadro, così potrai facilmente tornare alle quotazioni di tuo interesse.

Registrati ora per creare la tua watchlist personalizzata in tempo reale streaming.

Per accedere al tempo reale push di Borsa è necessario registrarsi.

Accedendo ai servizi offerti da ADVFN, ne si accettano le condizioni generali Termini & Condizioni

P: V:it D:20190123 06:09:54