MARKET REPORT

sion.barry@walesonline.co.uk SPECULATION that Boris Johnson could call a snap general election helped the pound continue its freefall against the US dollar.

The FTSE 100 rose by a similar margin, with foreign investors enjoying the weak pound and international London-listed firms seen as a safe haven from the political and economic uncertainties in the UK. The FTSE 100 closed up 74.76 points, or 1.04% at 7,281.94. The pound was down 0.82% against the US dollar at 1.2064.

In company news, Marks & Spencer closed down 2.65p at 189.6p, with investors fearful that the high-street stalwart is about to be dumped out of the FTSE 100 for the first time.

Drug firm AstraZeneca closed up 215p at 7,533p, after getting positive news on its diabetes and heart disease drug Brilinta. A positive upgrade from Deutsche Bank helped.

Kevin Loosemore, boss of tech business Micro Focus was unveiled as the new chairman of banknote to passport maker De La Rue. Shares in De La Rue stayed flat at 214p, while Micro Focus closed down 21.2p at 1087.6p.

Shares in pottery-maker Portmeirion Group closed down 15p at 860p after long-serving chief executive Lawrence Bryan, stepped down. Group finance director Mike Raybould will take over.

The biggest risers on the FTSE 100 were Experian up 76p at 2,594p; AstraZeneca up 215p at 7,533p; Intertek up 156p at 5,584p; Ocado up 33p at 1,328.5p and Diageo up 87.5p at 3,591p. The biggest fallers were Micro Focus down 21.2p at 1,087.6p; Marks & Spencer down 2.65p at 189.6p; Just Eat down 10p at 775.8p; Antofagasta down 10.2p at 855.8p and Smurfit Kappa down 14p at 2,522p.