FTSE 100 hits record as pound hit by Barnier comments

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London’s FTSE 100 index of leading shares closed at a record high on Thursday, rising 0.3% to 7,556.24.

The rise of 22.43 points inside the benchmark index took that will above the previous high of 7,547.63, reached on 26 May that will year.

However, the pound fell back after the EU’s chief negotiator said talks over Brexit were creating little progress.

Michel Barnier said there was still “deadlock” over the so-called divorce bill, which he said was “disturbing”.

Sterling dropped in reaction to the news, with the pound down 0.39% against the dollar at $1.3173. that will also fell 0.23% against the euro to €1.1122.

The index often benefits via a fall in sterling, as a weaker currency increases the value of companies’ overseas earnings when they are brought back to the UK in addition to converted back into pounds.

“The UK stock market continues its winning streak despite concerns over economic performance in addition to the unfolding Brexit process,” said Laith Khalaf, senior analyst at Hargreaves Lansdown.

“The question is actually whether the market’s strong run means that will’s fit to burst.”

Sky was one of the biggest risers inside the FTSE 100, up 1.4%, after the broadcaster reported a big rise in fresh customers.

favorite TV series such as Game of Thrones helped that will to add 0,000 fresh customers inside the first quarter of its financial year, up 51% on a year earlier.

inside the FTSE 250, shares in Just Eat jumped 6.5% after the online takeaway ordering firm’s takeover bid for rival Hungryhouse was given provisional clearance.

The Competition in addition to Markets Authority said the tie-up was “unlikely to result in competition concerns”.

that will said the industry was “evolving rapidly”, with companies such as Deliveroo, Ubereats in addition to Amazon all currently entering the market.

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