FTSE Volatile Following Brexit Statement
The FTSE 100 slipped during early trading, only to recover later in the day, and the pound also dipped into the red, after Theresa May delivered a historic statement about the future of the UK in the European Union. The confirmation that Article 50 had been triggered led to a difficult day’s trading, but by mid-afternoon the FTSE 100 was eight points higher.
US shares made a cautious start to the trading day, with the Dow Jones Industrial Average up by 46 points, and the Nasdaq making gains too, thanks to a strong performance from Amazon, and a record-breaking trading day for Apple.
The LSE was one of the best performers in the FTSE 100, after investors seemed unphased by the decision for the company to end its plans to merge with Deutsche Boerse. The move to carry on with the £200 million share buyback helped to boost share prices by 3.5 percent.
In the small-caps, the e-sports group Gfinity signed its first four professional sports teams for the Gfinity Elite esports tournament series, which will be launching later in the year. The four teams are Excel eSports, Reason Gaming, Team Infused and Prophecy, and they will be taking part in the Elite Series Street Fighter V, Counter-Strike: GO and Rocket League tournaments.
Meanwhile, Sound Energy Plc added 2.5 percent after James Parsons and the major shareholder Greenbury bought a large number of shares at approximately the current price, bringing the share price up to 79.25.
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