Stronger pound pulls UK's FTSE 100 lower in early trade

hl.co.uk:

We don’t support this browser anymore.
This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Newsroom

Newsroom articles are published by leading news agencies. Hargreaves Lansdown is not responsible for an article's content and its accuracy. We may not share the views of the author.

HL Podcast

HL Insight

The UK's FTSE 100 fell in broad-based declines on Thursday as a strengthening pound weighed on the exporter-heavy index, while elevated government bond yields also dampened risk appetite.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Published by

07 Dec 2023

The blue-chip FTSE 100 fell 0.4% by 0813 GMT, while the more domestically-focussed FTSE 250 midcap index lost 0.7%.

The personal goods sector led declines early on, falling 2.2%.

Among individual stocks, Asia-focussed lender HSBC was the biggest drag on the FTSE 100, falling 1%.

The pound rose 0.2% against the dollar, while British government bond yields also edged higher, in line with their global counterparts.

DS Smith fell 1.4% after the cardboard maker said its CEO Miles Roberts will retire and recorded a 15% slump in its half-year profit before tax.

Media firm Future lost 15.8% after reporting full-year results.

Smart Metering Systems jumped 41.9% after the energy infrastructure firm said a company owned by funds advised by KKR and its affiliates will acquire it in an all-cash deal of about 1.3 billion pounds ($1.63 billion).

(This story has been refiled to