FTSE 100 Closes Lower; Pound Rises, Fresnillo Gains -- Market Talk
September 03 2019 - 11:41AM
Dow Jones News
16:11 GMT - London stocks close lower as the pound rises on
fresh hopes that the U.K. could avoid crashing out of the EU with
no deal. The FTSE 100 ends the session 0.2%, or 13.75 points lower
at 7268.19 as sterling pares earlier losses to stand 0.17% up
against the dollar and 0.22% ahead versus the euro. "We've seen
GBPUSD reverse higher on the news that Boris Johnson has lost his
majority in Parliament," says Connor Campbell at Spreadex. "For all
the uncertainty ahead, markets see a Johnson-led no-deal Brexit as
the worst-case scenario and thus treat anything undermining that as
pound-positive." Mexican silver miner Fresnillo among the biggest
FTSE gainers as the price of silver spikes 4.8% after downbeat US
manufacturing data. (philip.waller@wsj.com)
(END) Dow Jones Newswires
September 03, 2019 12:26 ET (16:26 GMT)
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