MARKET REPORT
THE pound climbed higher yesterday amid hopes that the UK Government may be on track to break a deadlock with the EU over the so-called Brexit divorce bill.
In UK stocks, Mediclinic International and Spire were the worst performers on the FTSE 100, falling 17p to 538.5p, and 99.5p to 3,579p, respectively.
Mediclinic International said it will not make a further swoop for Spire after a breakdown in takeover talks, with Spire saying the offer undervalued the firm and its prospects.
Shares in British Gas owner Centrica dropped 1.8p to 161.4p after the company said it was scrapping standard gas and electricity tariffs for new customers ahead of Government plans to impose a price cap on the costly energy products.
The Big Six firm said the reforms - which follow similar pledges made on SVTs by E.On and Scottish Power - will be enforced by the end of March next year.
SSE fell 15p to 1,331p after Ofgem launched an investigation into the energy firm’s “cheapest tariff” messaging to prepayment customers.
Away from the top tier, DFS rose 2p to 192.5p after the competition watchdog waved through the sofa firm’s £25m swoop for smaller rival Sofology.
The biggest risers on the FTSE 100 were Barclays up 3.75p at 188.75p, Glencore up 6.4p at 359.85p, Intertek Group up 90p at 5,405p, and BAE Systems up 9p at 544.5p.
The biggest fallers on the FTSE 100 were Mediclinic International down 17p at 538.5p, Shire down 99.5p at 3,579p, Convatec Group down 4.4p at 201p and Hammerson down 7p at 526.5p.