FTSE 100 closes up despite massive fall for Jarvis

The FTSE 100 index closed up just over 20 points or 0.5% to 4505.5 by close of business in London, as rumours of a potential rate rise in the US strengthened the dollar to its best position in a year against sterling. It’s the large pharmaceutical firms such as GSK and AstraZeneca which have most to gain from an improvement in US sales, as the bulk of its profit originates in the US and financial reporting is conducted in US dollars. The pound today weakened to $1.7798 having yesterday closed the day at $1.7898 against the pound, but this is a stark improvement to the $1.7764 to the p...