Top shares hit by fears of US hurricane damage

volatility and the trading range of indices has been low as investors unwind their positions ahead of the weekend.”

On the currency markets, the pound surged higher thanks to a slump from the US dollar, which took a hammering in response to tropical storm Harvey, the prospect of Hurricane Irma and the likelihood US interest rates will be pushed further back into next year following the resignation of Federal Reserve vicechairman Stanley Fischer.

Sterling was up 0.9 per cent versus the US dollar at 1.32, while the UK currency also pushed 0.7 per cent higher against the euro at 1.09.

In oil, Brent crude dropped 0.5 per cent to $54.21 a barrel, rolling back gains during the session in response to reports that Saudi Arabia will trim oil supply allocations by 350,000 barrels per day across the globe next month.

Focusing on UK stocks, pub group saw its share price sink more than 15 per cent as it blamed falling consumer confidence, rising costs and bad weather for a slump in first quarter sales.

The FTSE 250 firm booked a 1.2 per cent fall in like-for-like sales in the 18 weeks to September 3, as it also pointed to increased competition from rivals. “We remain cautious about the trading environment and expect the challenges of weaker consumer confidence, increased costs and increasing competition to persist over the near term,” Greene King said.

The firm added that over the course of the year, most of the sales decline can be attributed to value food, although more recently it saw “some softening across other segments”. Shares closed down 103.5p at 555.5p.

was also nursing losses as traders reacted to news it was in talks to buy 100 per cent of Daily Express group

The publisher of the Daily Mirror sank around five per cent, or 4.5p to 86.3p, after it said it has “ceased discussions to acquire a minority stake” .

Instead, the group is now in talks to buy the publisher, which also comprises the Daily Star, in its entirety.

The biggest risers on the FTSE 100 index were up 24p to 1,142p;

3.6p to 187.6p; up 5.2p to 278.2p; and

up 3.2p to 244.4p. The biggest fallers were down 55p to down down

up 1,402.5p;

39p to 1,008p;

10.8p to 288p; and

down 49p to 1,378p. THE S&P 500 ended slightly lower yesterday as investors braced for potential damage from Hurricane Irma as it moved toward Florida, while a decline in big tech names like

and pushed the Nasdaq down more sharply.

The Dow eked out a gain, helped by a 4.0 per cent rise in shares of insurer

Insurer shares rose broadly, with the Dow Jones US Insurance Index up 2.1 per cent, recouping some losses after being under pressure recently as the southern United States braced for another powerful storm closely on the heels of Hurricane Harvey.

Irma, one of the most powerful Atlantic storms in a century, lashed Cuba and the Bahamas as it drove toward Florida, while US officials were preparing a massive response to the storm.

The Dow Jones Industrial Average rose 13.01 points, or 0.06 per cent, to 21,797.79, the S&P 500 lost 3.67 points, or 0.15 per cent, to 2,461.43 and the Nasdaq Composite dropped 37.68 points, or 0.59 per cent, to 6,360.19. The tech sector which has outperformed all other major groups this year, ended down 0.9 per cent.

was the biggest percentage loser on the S&P, falling 13.7 per cent, after the provider of consumer credit scores said personal details of as many as 143 million US consumers were hacked. shares ended down 7.5 per cent after the biggest US supermarket owner reported a profit drop.