Home news FTSE 100 slips as pound steadies

FTSE 100 slips as pound steadies


Sterling rose in early trade, regaining some of the ground lost last week when it had hit a one-month dollar low.The pound had been hit by uncertainty over Theresa May’s future following the prime minister’s mishap-strewn speech at the Conservative Party conference.However, as trading got under way for the week, the pound rose 0.4% against the dollar to $1.3119. It was also up 0.4% against the euro at €1.1189.The FTSE 100 share index fell 3.29 points to 7,519.58.Shares in Smith & Nephew were the biggest fallers on the index, down 1.3%, after the medical devices maker said its chief executive, Olivier Bohuon, intended to retire by the end of 2018.In the FTSE 250, shares in hotels group Millennium & Copthorne jumped nearly 22% after Singapore’s City Developments offered to buy the remaining shares in M&C that it does not already own.City Developments already controls about 65% of M&C. The offer values the hotels group at about £1.8bn.
Source: BBC Regional