Home / Rebounds / FTSE 100 stumbles as Burberry tumbles

FTSE 100 stumbles as Burberry tumbles

FTSE 100 stumbles as Burberry tumbles

FTSE 100 stumbles as Burberry tumbles

  • 19 April 2017
  • From the section Business

Market trader (file picture)Image copyright
Getty Images

(Open): London’s leading shares dipped in early Wednesday trading but sterling was steady as investors continued to digest the consequences of the UK’s snap election call.

In the opening minutes, the benchmark FTSE 100 share index fell 8.02 points or 0.11% to 7,139.48.

Meanwhile, the pound was flat against both the dollar and the euro, at $1.2839 and 1.1968 euros respectively.

Luxury fashion firm Burberry was the biggest loser, falling 4.4%.

Its tumble came despite a positive trading update that saw its second-half revenues rise 19% to £1.3bn, thanks to the weakness of the pound since the UK’s vote to leave the EU.

At the other end of the fashion scale, AB Foods, owner of budget clothing chain Primark, was the biggest riser on the 100-share index.

It gained 3.1% on the strength of results that showed a 35% rise in first-half pre-tax profits.

Source : BBC News – Business

FTSE 100 stumbles as Burberry tumbles

FTSE 100 stumbles as Burberry tumbles

About Ali Wael

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Facebook Auto Publish Powered By : XYZScripts.com