Weak Pound Props Up FTSE 100

Published / Last Updated on 31/10/2018

FTSE UpWeak Pound Props Up FTSE 100: UK blue-chip shares avoided a day of falls on European markets, as some positive company turnover and profit forecasts and a weaker pound supported the FTSE 100 on Tuesday.

European market falls were caused by worries over the EU rejecting the Italian budget.

The French Cac was 0.22% lower and the German Dax fell 0.42%.  Italy’s situation could set off another round of debt crisis.

The pound was lower on the currency markets as traders were nervous after Monday’s budget.

In the third quarter BP more than doubled their profits on the back of a weak pound.