Footsie makes gains ahead of vital EU talks

Sterling was riding high after official figures showed that British workers enjoyed the strongest rate of wage growth since the financial crisis.

Office for National Statistics (ONS) data showed average earnings excluding bonuses grew by 3.1 per cent in the three months to August, the highest level since 2009.

The British currency was trading 0.5 per cent higher versus the US dollar at $1.321 and 0.4 per cent up against the euro at €1.140.

The pound’s strength weighed on the FTSE 100, although it still managed to end in positive territory, up 30.18 points at 7,059.4.

Connor Campbell, financial analyst at Spreadex, said: “While its peers raced off into the distance, the FTSE was left panting behind.

“There are plenty more chances for the FTSE to get its revenge, however, not only with Wednesday’s inflation and Thursday’s retail sales data, but the impending, hugely important mid-week summit between EU leaders.”

Shares in Paddy Power Betfair jumped, despite the bookmaker being fined £2.2 million by the gambling watchdog for a raft of failings, including allowing a punter to gamble with money stolen from a dogs home. Shares closed up 280p at 6,570p.

The biggest risers on the FTSE 100 included Ocado, up 43.6p at 833.4p, Ashtead, up 88.5p at 2,061p, Experian, up 74p at 1,807p, and Rollsroyce, up 31.2p at 897.8.

The biggest fallers on the FTSE 100 included British American Tobacco, down 154.5p at 3,176.5p, Tesco, down 7.4p at 208.6p, Marks & Spencer, down 6.7p at 286.1p, and Imperial Brands, down 46p at 2,541p.