London’s top-flight index rebounded on Friday and sterling gave up its gains as Prime Minister Theresa May overcame a major barrier in the Brexit negotiations. London’s top-flight index rebounded on Friday and sterling gave up its gains as Prime Minister Theresa May overcame a major barrier in the Brexit negotiations. Sterling loses ground against the US dollar (PA) Sterling was trading higher in the morning session, but was down 0.7% versus both the US dollar and the euro at 1.33 and 1.13 respectively when the London market closed. David Madden, analyst at CMC Markets, said: “The U-turn in the pound has pushed the FTSE 100 higher and it has now exceeded its eurozone equivalents. The group said its pre-tax profit guidance has now been upgraded to £3.3 billion from £3 billion.

Source: Irish Independent December 08, 2017 17:37 UTC