The London Stock Exchange rises 0.21% and the pound falls by the “brexit”
The London Stock Exchange rises 0.21% and the pound falls by the "brexit"
The London Stock Exchange rose 0.21% on Wednesday driven by another drop in the pound, which depreciated against the dollar and the euro for the renewed uncertainty about the “brexit” process.
The main London index, the FTSE-100, added 15.47 points to 7,540.75 points, boosted by the depreciation of the British currency, which benefits multinationals that invoice in dollars or euros.
In contrast, the secondary index FTSE-250, which mainly includes national companies, fell 0.12%, 27.07 points to 21,663.13 points.
The pound maintained its downward trend and, at the close of the stock market, yielded 0.17% against the euro, to 1.1754 euros, and 0.43% against the dollar, up to 1.3075.
The British currency has already lost the gains achieved after the resounding victory of the Conservative Party in the general elections last Thursday.
Investors now fear that the United Kingdom will disassociate itself from the European Union (EU) definitively at the end of the transition period, on December 31, 2020, without a bilateral trade agreement or with a minimum one, after the Government will indicate that prohibit extending that period of negotiations.
The National Statistics Office announced on the eve of the country formally leaving the EU on January 31 that British inflation remained at 1.5% in November, its lowest level since 2016.
In the London parquet, among others, the tobacco company Imperial Brands (LON: IMB ), which rose 2.41%, the Evraz mining company, which gained 2.34%, and the Pearson publishing house (LON: PSON ), which He finished with 1.71% more.
On the other hand, the real estate company Persimmon (LON: PSN), which yielded 2.09%, the security technology company Halma, which fell 2.03%, and the Legal & General insurance company (LON: LGEN), which closed with a fall of 1.94%.