Strong pound and wages fall holds back shares

24

cent versus the US dollar at 1.321, but that still left the currency near one-year highs. Versus the euro, the pound was flat at 1.110. It slumped in morning trading following unemployment figures which revealed a further fall in real wages.

The FTSE 100 index was also impacted by a drop in mining shares. David Madden, a market analyst at CMC Markets UK, said: “In London, miners like

and are offside due to the large drop in the price of copper.”

A raft of mining stocks were holding the bottom spots on the FTSE 100, including down 39p to 969p, down 57p to 1,513p,

down and

44.5p to 1,349p.

Brent crude prices jumped 1.1 per cent to around $54.85 per barrel to a near five-month high. It comes after the International Energy Agency said the global demand and Opec production cuts were starting to reduce the global oil glut.

In UK stocks, edged lower by 5p to 932p.

The broadcaster confirmed yesterday that chief executive Jeremy Darroch’s total annual pay packet more than trebled to £16.3 million last year after he benefited from a generous share award.

fell 23p to 1,340p after reporting a 57 per cent slump in annual pre-tax profits to £58.7m.

shares jumped 51p to 661.5p, despite confirming a 28.3 per cent slump in pre-tax profits in the year to July 1 after being stung by costs related to its acquisition of Worldstores and falling store sales.

However, the group is still aiming to double sales to £2 billion. rose 5.3p to 319.2p amid news that the retailer had named Graham Stapleton – the head of

software business Honeybee – as its new chief executive.

Stapleton will start in his post on January 15, succeeding Jill McDonald, who is leaving at the end of this month to lead

fashion and homewares arm.

The biggest risers on the FTSE 100 were up 14p to 846p, up 30p to 2,428p,

up 7p to 603p, and up 12p to 1,533p. The biggest fallers on the FTSE 100 were Antofagasta, down 39p to 969p; Fresnillo, down 57p to 1,513p, Anglo American, down 44.5p to 1,349p; and down 75p to 2,833p. WALL Street edged up to a record high yesterday as gains in consumer discretionary and energy stocks offset losses in technology heavyweight

Shares of Apple dropped 0.8 per cent on concerns the company’s newly launched iPhone X is too expensive and because its availability starting in November was later than expected. With the widely held stock up 37 per cent so far this year, some analysts said it was time to cash in gains.

Even with Apple’s losses, the S&P 500, Dow Jones industrial average and the Nasdaq all closed at record levels, helped by other consumer stocks.

The S&P energy index rose after the International Energy Agency said that a global surplus of crude was starting to shrink.

The Dow Jones Industrial Average rose rose 39.32 points, or 0.18 per cent, to 22,158.18 The S&P 500 edged upgained 1.89 points, or 0.08 per cent, to 2,498.37, and the Nasdaq Composite added 5.91 points, or 0.09 per cent, to 6,460.19. Shares of credit score provider

tumbled 14.6 per cent after an apology by company chief executive Richard Smith for a massive data breach failed to appease investors.

rose 2.8 per cent after the retailer said it would hire 100,000 workers for the holiday season. climbed 1.5 per cent, boosting the Dow, while a 1.7 per cent rise in boosted the Nasdaq.