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Weaker pound pushes FTSE 100 higher; PMI data eyed

Published 09/23/2020, 03:23 PM
Updated 09/23/2020, 03:30 PM
PZC
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FTMC
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SSPG
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(For a live blog on European stocks, type LIVE/ in an Eikon
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* FTSE 100 up 0.8%, FTSE 250 gains 1.0%

Sept 23 (Reuters) - London's FTSE 100 rose on Wednesday for
the second consecutive session as the largely export-focussed
index benefited from a weaker pound following fresh COVID-19
curbs in the UK.
The FTSE 100 gained 0.8%, with the pound hovering near its
two-month low. The UK government unveiled long-lasting
restrictions to tackle a second wave of coronavirus infections
that threaten to derail a fragile recovery in economic activity.
Investors are also awaiting PMI data to be released later in
the day for clues on how the economy performed in September.
The mid-cap index .FTMC rose 1.0% with healthcare sector
stocks .FTNMX4350 leading gains.
Beauty products maker PZ Cussons Plc PZC.L fell 1.2%
despite posting a 23% rise in first-quarter revenue on higher
sales of hand wash, sanitiser gels and soaps. SSP Group SSPG.L , the owner of Upper Crust and Caffe
Ritazza, rose 4.2% after pointing to an improvement in weekly
sales even as it forecast an 86% drop in second-half sales due
to the COVID-19 pandemic.

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