UK Shares Trending Higher

The FTSE 100 continued to trend upwards on Friday, putting the FTSE 100 on track to close at a new record high - although it is still short of Thursday’s intraday high. The biggest rise was RBS, who gained 2.3 percent, following upbeat comments from Natixis.

UNDEFINED - Friday, March 17, 2017

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In the FTSE 250, Tullow Oil saw their shares fall by 15 percent, following the news that they were planning to raise £607 million through a share sale, in an attempt to cut their debts.

Meanwhile, housebuilder Berkeley Group are the biggest riser in the FTSE 250, gaining six percent, after they said that full-year profits are set to be at the top end of forecasts. The housebuilder reported that housing demand in the South East and London has now stabilised, following a brief fall in sales following the result of the Brexit referendum.

In the currency markets, the pound is stable at $1.2358 against the dollar, and also remains flat against the Euro. By early afternoon, the FTSE 100 was up by 14.29 points, at 7,430.24, and looks to remain positive. This means that the FTSE 100 is up by around 20 percent over the last year, with a large portion of that gain attributable to the relative weakness of the Sterling since the referendum. Many FTSE 100 companies earn their money in dollars, and the pound’s weakness is of great benefit to those companies when their earnings are converted. Trump’s economic policies have helped to create optimism for US companies.


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