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Home / World / UK & # 39; s FTSE 100 falls so loudly over the positive Brexit remark of EU officials

UK & # 39; s FTSE 100 falls so loudly over the positive Brexit remark of EU officials



The British stock index lost ground on Thursday as a stronger pound continued to weigh on the price.

Sterling keeps finding buyers after the European Union's chief negotiator offered his British colleagues an olive branch a day ago

How markets work

The FTSE 100

UKX, -0.65%

fell 0.7% to 7,509.74, after a decline of 0.7% in the previous session.

The British blue-chip ad shows a decline of 0.9% for the week, and it has come down 2.3% for the year so far.

The pound

GBPUSD, -0.1689%

bought $ 1.3025, little changed from $ 1.3028 late Wednesday in New York. Against the dollar, the week has risen by more than 1%.

A stronger pound may hold back the FTSE 100 as the multinationals of the index generate most of their sales in other currencies.

What moves markets

EU Negotiator Michel Barnier said on Wednesday the trading bloc was ready to offer the United Kingdom an unprecedented partnership that would give the pound a big boost for this session.

His comments have helped dispel concerns over the potential for a "no-deal brexit," which means a disorderly UK move away from the EU without an agreement on future trade relations.

Read more: Prepare for a No Deal Brexit: 5 Areas Investors Should Watch

And See: The CEO of a leading London startup marks the biggest Brexit threat in its sector [19659015] What do the strategists say?

Barnier's "gentler language will be a positive one, but A) There is still skepticism about what it all means, with a few details about it, and B) We have heard that kind of language in the past," said Neil Wilson, senior market analyst for Markets.com, in a single note.

Shares in Focus

Shares in the Vodafone Group PLC

VOD, -1.47%

fell 1.9% after the telecom announced a merger for an Australian company.

From the FTSE 100, stock of Hays PLC

HAS, -4.34%

dropped 4.3%, although the recruitment company announced a special dividend following a rise in the year's results.

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