FTSE rises to all-time high

The Press and Journal (Aberdeenshire) - - BUSINESS -

The FTSE 100 In­dex hit an­other record high yes­ter­day af­ter the UK Gov­ern­ment re­vealed plans to trig­ger Ar­ti­cle 50 next week.

London’s main market rose 0.07% or 4.85 points to a new all-time best of 7,429.81, boosted by an­other drop in the pound.

Ster­ling fell more than 0.4% against the US dol­lar to trade near 1.234, and dropped over 0.3% ver­sus the euro to trade at 1.149.

Multi­na­tional firms in the blue chip in­dex tend to ben­e­fit when for­eign cur­ren­cies are stronger than ster­ling.

The Foot­sie’s big­gest ris­ers yes­ter­day in­cluded 3i Group up 14p to £7.35, Di­rect Line In­sur­ance Group 6.5p higher at 340.9p, Ad­mi­ral Group up 34p to £19.79 and Sains­bury 4.7p higher at 274.4p.

Voda­fone shares dropped 0.9p to 210.5p af­ter it said it was merg­ing its In­dian op­er­a­tion with Idea Cel­lu­lar in a deal cre­at­ing the Asian coun­try’s big­gest tele­coms firm.

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