Rees-mogg’s Brexit hints revive pound

The pound rebounded after comments from Jacob Rees-mogg indicated that a no-deal Brexit could be off the table.

In an interview, the chairman of the European Research Group (ERG) said it was difficult to see the UK exiting the EU without a deal, leaving two choices: the Prime Minister’s deal or no Brexit.

Sterling rose following his comments, before pulling back slightly to close 0.44 per cent higher against the euro at €1.171 and up 0.22 per cent versus the dollar to $1.322.

The stronger pound held back London’s topflight, but the FTSE 100 still managed to post a rise of 18.71 points to end the day at 7,196.29.

Irn-bru producer AG Barr posted a year of rising sales as it shrugged off the sugar tax, Brexit blues and volatile weather conditions.

Full-year turnover was up by 5.6 per cent to £279 million at the Cumbernauld-headquartered soft drinks group. Shares closed 18p higher at 795p.

Fever-tree posted a sharp rise in annual sales and profits, as gin drinking during the World Cup and last year’s royal wedding helped the premium mixer maker. Shares fizzed up by 158p to reach 2,700p.

Domino’s Pizza revealed that it is preparing for change at the top of the takeaway chain as it considers a future without its chief executive and chairman amid an escalating row with franchisees.

The group said it is “considering succession planning” for chairman Stephen Hemsley and CEO David Wild. Shares rose by 7.7p to 241p as the news emerged.