FTSE 100 up but sterling’s faring mixed

The FTSE 100 edged higher and the pound was mixed as investors awaited details of Donald Trump’s plans for a massive US corporate tax cut.

Sterling was hovering near the flatline against the US dollar at 1.283, but was up 0.5% versus the euro at 1.180.

London’s blue chip index, meanwhile, ended the day up 0.18% or 13.08 points at 7,288.72, while the FTSE 250 closed at a fresh record high at 19,678.82 points, up 0.49% on the day.

It comes after Mr Trump’s treasury secretary confirmed the US administration will be calling for a massive cut in the corporate tax rate down from 35% to 15%.

In oil markets, Brent crude prices rose 0.2% to $52.07 per barrel (£40.56).