Online retailers accused of ‘blind eye’ to tax
Sterling surged to a fresh one-year high against the US dollar yesterday, while blue-chip stocks slumped after the Bank of England hinted it may raise interest rates in the “coming months”.
The pound was up 1.4% versus the greenback at 1.33, and 1.5% higher against the euro at 1.12.
A stronger pound took its toll on the FTSE 100 Index, which closed down 84.31 points to 7,295.39.
High-street retailer Next was in the ascendancy, up £5.77 to £49.94, after it upped its earnings outlook after “encouraging” trading.
Broadcaster Sky drifted lower, 3.5p to 928.5p, after Culture Secretary Karen Bradley confirmed 21st Century Fox’s £11.7billion takeover bid is being referred to the competition watchdog for an in-depth probe.
The Footsie’s biggest fallers included Morrisons down 12.6p to 232.4p, Experian off 74p at £14.59, Taylor Wimpey down 7.1p to 186.5p and Rio Tinto off 124.5p at £35.
BY BEN WOODS