FTSE 100 retailers boosted by Brexit breakthrough, but stronger sterling hurts blue chip index
Retailers and housebuilders were leading the way in the FTSE 100 this afternoon following the news that the UK and EU have agreed a draft text on their future relationship after Brexit.
Online delivery service Just Eat saw its share price increase by nearly four per cent, while online gambling firm GVC Holdings, Berkeley Homes, Burberry and the Royal Bank of Scotland (RBS) followed suit.
Meanwhile, the top FTSE 100 fallers were mining companies Fresnillo and Evraz, packaging company Smurfit Kappa, electricity and gas supplier Centrica and chemicals company Johnson Matthey.
Overall the FTSE 100 fell by nearly one per cent, from 7,030 points at market open to 6,974 points at around 1.30pm.
Earlier today the pound rose almost one per cent to as high as $1.293 before settling at $1.286 against the dollar on news earlier today that the UK and EU have agreed a draft text governing the future relationship between Britain and the bloc.
Prime Minister Theresa May said following the announcement that a Brexit deal “is within our grasp” as she addressed the nation from Downing Street.
“The British people want a good deal," she said. "That deal is in our grasp and I am determined to deliver it.
May is set to update parliament on her progress at 3pm today but announced an impromptu speech early this afternoon.
“The text of the declaration has been agreed between the UK and EU. I have updated the cabinet,” she said. “This is the right deal for the UK, delivering on the vote of the referendum.
“It's now up to the 27 leaders of the EU member states to examine the agreement ahead of Sunday."