LONDON: London’s FTSE 100 slipped to a near one-month low on Wednesday as the pound jumped on hopes Brexit talks were set to resume, while investors remained concerned over prospects of more coronavirus restrictions in England.
The export-heavy FTSE 100 index closed 1.9% lower, dragged down by travel and leisure, pharmaceutical industrial and financial stocks.
The domestically-focussed mid-cap FTSE 250 index lost 0.8%, with gold miner Centamin Plc tumbling 19.2% to the bottom of index after cutting its 2020 production forecast.
The blue-chip index also underperformed as sterling soared to a six week-high on reports that Brexit talks were expected to resume again, after the United Kingdom walked away from the negotiations last week.
Official figures meanwhile showed UK public debt jumped to its highest since 1960 in the first half of the year, while annual consumer price inflation climbed to 0.5% in September.
In company news, Metro Bank Plc rose 2.5% after the lender reported a 2% increase in lending for the third quarter.
New tiered restrictions in parts of England due to a resurgence in novel coronavirus cases and an impasse over a Brexit trade deal have pressured UK markets this week, with data also signalling a slowing domestic recovery.
South Yorkshire will join Liverpool and Lancashire in the highest tier with the same measures to be imposed in Manchester as talks stalled for a support package with local leaders.
Comments
Comments are closed for this article.