U.K. Shares Pare Early Losses, On Course To Set Another All-time Record High
Mar, 17th 11:40
U.K. shares continued to advance on Friday, paring early losses in an attempt to retest a record logged on Thursday. The benchmark for blue-chip stocks struggled for direction in early trade as investors were seen as taking caution ahead of the G-20 meeting.
The FTSE 100 hit a fresh record at 7,415.95 after having jumped 0.6% on Thursday and gained less than 0.2% on Friday, looking set for its second weekly advance in three weeks with a gain of 1%.
While gains recorded in oil and gas, technology and financial sectors offset losses in shares of mining, health care and utility, a weakening British pound gave a boost to the index. Sterling was down nearly 0.13%, reversing lower after soaring past $1.23 on Thursday in the aftermath of the Bank of England’s policy meeting showing a slightly hawkish tone.
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