Footsie on the rise as Brexit hurts sterling

The FTSE 100 closed higher as the value of sterling neared a three-month low after Brexit talks hit another stumbling block.

London’s top flight climbed by 55.35 points to 7,296.95 at the close of trading.

The pound continued to slide for a second day, as the government confirmed a key vote on Theresa May’s Brexit deal would take place at the start of June, despite not reaching an agreement with Labour following cross-party talks.

Brexit supporters have suggested there is little possibility it will be any more successful than the three previous votes, weakening the currency.

Sterling fell 0.31 per cent to $1.287 versus the dollar and 0.3 per cent to €1.149 versus the euro.

In stocks, holiday giant Tui rose despite the firm reporting widening losses for the half-year and a fall in summer bookings as Brexit uncertainty weighed on consumer confidence.

The FTSE 100 company posted an underlying loss of €301 million (£261m) for the six-month period to March 2019, up from a €170m loss in the same period last year. Shares closed 14.4p higher at 819.6p.

Shares in housebuilder Crest Nicholson climbed after it insisted sales are proving “resilient” despite an uncertain outlook for homebuyer demand amid Brexit worries. Shares closed up 3.6p at 369.3p.

B etting giant William Hill saw shares dip 3.65p to 134.65p despite enjoying increased revenues for the 17 weeks to 30 April.

R apid grow th in the US offset a decline in UK online income for the FTSE 250 company, which reported a 2 per cent jump in net revenue.