Weak dollar hits FTSE firm profits

clock

In London, markets fell back in early trading as the weak dollar hit profits at some firms and the FTSE 100 was down 15.7 points, or 0.24%, to 6,470.7.

Standard Chartered made the biggest gains, up 19 points, or 1.19%, to £16.17, followed by Invesco, which jumped 7.5 points, or 1.13%, to 668.5p. British Airways added 3.75 points, or 0.98%, to 388p, Resolution gained 6 points, or 0.88%, to 690.5p, and Smith & Nephew climbed 5 points, or 0.86%, to 587.5p. Tate & Lyle shares dropped drastically as the company said the weak dollar would impact on profits, down 125.25 points, or 22.47%, to 432.25p. Northern Rock lost much of its gains over the week, down 9 points, or 4.65%, to 184.5p and Antofagasta fell 27 points, or 3.42%, to 763.5p. On...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login