Home Business Deals spur FTSE as pound sinks on fear of no-deal Brexit –...

Deals spur FTSE as pound sinks on fear of no-deal Brexit – The Times

0
17
Deals spur FTSE as pound sinks on fear of no-deal Brexit – The Times

Sterling hit by markets’ alarm at talk of turbo-charged Brexit

Britons will find holidays on the Continent more expensive after the pound reached its lowest level against the euro since September 2017DAVID RAMOS/GETTY IMAGES

The FTSE 100 has hit its highest level in 11 months while sterling has fallen to its lowest in two years after rising concerns about a no-deal Brexit and a glut of multibillion-pound deals led to a volatile day for financial markets.

The FTSE 100 rose by almost 2 per cent as London Stock Exchange Group and Just Eat surged amid the news that they were in talks about transformative deals, while companies with substantial overseas businesses were boosted by expectations that a weaker pound would boost their profits. The index closed up 137.55 points, or 1.82 per cent, at 7,686.61, its highest since last August.

Shares in Just Eat surged by a quarter after it revealed a £5 billion takeover by Takeaway.com, a Dutch…

Want to read more?

Subscribe now and get unlimited digital access on web and our smartphone and tablet apps, free for your first month.

LEAVE A REPLY

Please enter your comment!
Please enter your name here