London's FTSE 100 dips as stronger pound weighs

Reuters
15 Feb
UPDATE 1-London's FTSE 100 dips as stronger pound weighs

FTSE 100 down 0.4%, FTSE 250 flat

Pound rose to its strongest level

NatWest lost on lacklustre guidance

XP Pensions jumped on upbeat revenue forecast

Updates after market close

Feb 14 (Reuters) - British stocks ended mixed on Friday, dragged down by the pharma sector and a stronger sterling hurting the export-oriented index, while encouraging earnings from XP Pensions provided a lift to the midcap index.

The export-heavy FTSE 100 .FTSE dropped 0.4%, after achieving record highs for three consecutive sessions earlier this week. However, the index gained 0.7% in the week, clocking its third straight weekly increase

The Pharma sector .FTNMX201030 lost 1.8%, the biggest sectoral loser, after U.S. peer Moderna MRNA.O reported a bigger-than-expected quarterly loss.

The pound GBP=D3 rose to its strongest level against the dollar this year, after UK GDP data earlier this week improved the mood around the strength of the British economy, while the dollar weakened on some relief over U.S. tariff threats.

British bank NatWest NWG.L lost 2.04%, after giving a lackluster guidance, adding to the losses in the benchmark index.

The yield on the UK 10-year benchmark gilt GB10YT=RR saw a slight uptick, also adding downward pressure. GB/

Keeping losses at check, British bookmaker Entain ENT.L rose 6.8%, after U.S. peer Draftkings DKNG.O raised its 2025 revenue forecast.

Segro SGRO.L gained 1.3%, after the warehousing group reported a 15% jump in profit in 2024.

The FTSE 250 .FTMC ended flat. XP Pensions XPS.L, jumped 12.4%, their highest since October 16, after an upbeat revenue forecast. The index was set to gain 0.8% this week.

On the flip side, John Wood Group WG.L plummeted 55.6%, after the British engineering firm said its free cash flow would be negative this year, instead of positive as previously expected.

Among sectoral performers, industrial metals & mining .FTNMX551020 gained 0.8%, as copper prices climbed to three-month highs. MET/L

Glencore GLEN.L gained 2.2%, after the miner held preliminary discussions about selling its multi-billion dollar copper and cobalt mines in the Democratic Republic of Congo, the Financial Times reported.

(Reporting by Sanchayaita Roy and Pranav Kashyap in Bangalore; Editing by Vijay Kishore and Timothy Heritage)

((Sanchayaita.Roy@thomsonreuters.com;))

For related prices, Reuters users may click on - *  UK stock report     .L     FTSE index:         0#.FTS6  techMARK 100 index: .FTT1X         FTSE futures:     0#FFI:  Gilt futures:       0#FLG:         Smallcap index:    .FTSC  FTSE 250 index:     .FTMC          FTSE 350 index:    .FTLC  Market digest:      .AD.L          Top 10 by vol:     .AV.L  Top price gainers:  .NG.L          Top % gainers:     .PG.L  Top price losers:   .NL.L          Top % losers:      .PL.L 
     * For related news, click on - * UK hot stocks:      HOT and GB     Wall Street:          .N Gilts report:       GB/            Euro bond report GVD/EUR Pan European stock report: .EU Tokyo stocks:       .T             HK stocks:           .HK Sterling report:    GBP/           Dollar report:      USD/
     * For company prices, click on - * Company directory:  UKEQ          By sector:          FTAX 
     * For pan-European market data, click on - * European Equities speed guide................ EUR/EQUITY  FTSE Eurotop 300 index........................... .FTEU3  DJ STOXX index................................... .STOXX  Top 10 STOXX sectors........................ .PGL.STOXXS  Top 10 EUROSTOXX sectors................... .PGL.STOXXES  Top 10 Eurotop 300 sectors.................. .PGL.FTEU3S  Top 25 European pct gainers.................... .PG.PEUR  Top 25 European pct losers..................... .PL.PEUR 

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10