Footsie ends week on a positive note

Sterling staged a mini revival after coming under pressure on the back of US president Donald Trump’s comments that a post-brexit trade deal between Britain and the US could be dead.

Trump rowed back on the comments, leading to the pound bouncing back to end the session marginally up versus the US dollar at 1.32. Versus the euro, the British currency was flat at 1.13.

As the pound recovered, the FTSE 100 was pegged back, but still managed to close in positive territory, ending the day up 10.54 points at 7,661.87.

Connor Campbell, analyst at Spreadex, said: “Sterling managed to halve its losses as the afternoon went on but the reduction of the pound’s Friday decline meant the FTSE lost some of its swagger.”

In stocks, Hays was on the rise after the recruiter said that profit is expected to come in slightly ahead of expectations after the firm booked a solid fourth-quarter performance.

The group said full-year operating profit is set to be “marginally” ahead of consensus. Shares closed up 16.4p at 207.6p.

Experian shares ended down, even as the credit-checking group reported an increase in sales for its first quarter, saying it is on track to meet its target for the year.

The firm reported a 9 per cent rise in its total revenue for the three months ended 30 June at actual exchange rates. Shares closed down 13.5p at 1,907p.

Meanwhile, retailer The Works announced that it is set to list on the stock exchange to raise £65.2 million, valuing the firm at £100m.