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FTSE 100 slips as stronger pound, subdued consumer spending data weigh

Published 02/09/2021, 04:15 PM
Updated 02/09/2021, 04:20 PM
© Reuters.

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 down 0.2%, FTSE 250 adds 0.1%

Feb 9 (Reuters) - London's FTSE 100 fell on Tuesday after a
solid start to the week, as a stronger pound outweighed a set of
upbeat earnings, while data showed a nationwide lockdown hurt
consumer spending in January.
The blue-chip FTSE 100 .FTSE was down 0.2%, with food and
drug retailers .FTNMX5330 and construction .FTNMX2350 stocks
being the worst performers. The mid-cap FTSE 250 .FTMC gained
0.1%
The pound jumped to a near 34-month high, weighing on the
export-heavy index, as the dollar .DXY languished near its
lowest in a week. The retail index .FTNMX5370 fell 0.2% after surveys showed
British consumer spending plunged at the fastest rate in seven
months.
Bellway Plc BWY.L rose 2.8% after the homebuilder
reported strong demand for new homes, as low lending rates and a
temporary cut in stamp duty boosted activity in the sector.
Ocado Group OCDO.L dropped 3.8%, even after the online
grocer and technology group reported a 69% increase in 2019-20
core earnings.

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