Tajuk : The FTSE 100 is rallying due to a weak pound as a hung parliament is confirmed
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The FTSE 100 is rallying due to a weak pound as a hung parliament is confirmed
LONDON — The FTSE is rallying due to a weak pound on Friday morning as Thursday’s election ended in a hung parliament.
Here’s what it looks like at 8.20 a.m. BST (3.20 a.m. ET):
Investing.com
Though a weaker pound might seem like bad news for UK stocks, about 70% of the revenue of the companies that make up the FTSE 100 is derived from abroad, meaning they make more money when sterling is weak.
The FTSE 250, which contains a higher quota of domestic companies, was down around 0.5% at the same time.
An emailed note to clients from analysts Mike van Dulken and Henry Croft this morning said: “A very positive opening call comes as FTSE investors embrace fresh GBP weakness following a hung parliament result from the UK election.
“Whilst this means uncertainty about the UK economy and of course Brexit negotiations, the index’s international exposure means it benefits from a FX translational standpoint. The prospect of a softer Brexit stance due to a coalition is also helping. Stocks in focus today will be financials, miners and housebuilders.”
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
✍ Sumber Pautan : ☕ Business InsiderBusiness Insider
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Thus Article The FTSE 100 is rallying due to a weak pound as a hung parliament is confirmed
Anda sedang baca artikel The FTSE 100 is rallying due to a weak pound as a hung parliament is confirmed dengan alamat pautan https://johorbaharunews.blogspot.com/2017/06/the-ftse-100-is-rallying-due-to-weak.html
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