FTSE 100 Rises On Weaker Pound

By RTTNews Staff Write  ✉   | Published:

U.K. stocks rose on Wednesday, with sentiment helped by a weaker pound ahead of a U.K.-imposed Oct. 15 deadline for progress in Brexit negotiations. The pound was also weighed down by growing political wrangling over new Covid-19 restrictions.

The benchmark FTSE 100 rose 22 points, or 0.4 percent, to 5,992 after declining half a percent in the previous session.

Just Eat Takeaway.com NV shares surged 5.3 percent after the food-delivery platform reported a surge in online orders in the third quarter.

Bunzl rallied 3.7 percent after the distribution and services group reported a rise in third-quarter revenue.

Investment manager Ashmore Group jumped 7.5 percent. The company said its assets under management for the first quarter of fiscal 2021 rose 2.3 percent to $85.5bn.

Housebuilder Barratt Developments gained 2.8 percent after its forward sales rose 19 percent at the start of fiscal 2021.

Travel-related stocks were coming under selling pressure as England enforced a new three-tier system of Covid-19 restrictions.

International Consolidated Airlines lost 2 percent and Ryanair Holdings declined 1 percent.

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