FTSE CLOSE: London shares finish up but pound falls to lowest in almost a year

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FTSE CLOSE: London shares finish up but pound falls to lowest in almost a year; HSBC banks profit rise as digital overhaul gets underway

The FTSE 100, which had opened flat at 7,600, just about managed to end the day in positive territory, up 4.68 points at 7,663.78.

Meanwhile, Brexit concerns sent the pound falling by 0.4 per cent to its lowest level against the dollar in almost a year.

Sterling fell to $1,2920 – its lowest since September 2017, as trade minister Liam Fox, a prominent Brexit supporter, said over the weekend the odds of Britain leaving the EU without agreeing on a deal stood at 60-40.  

The currency had already plummeted on Friday after Mark Carney issued warnings about a ‘no-deal Brexit’.

In company news, HSBC posted an uplift in half-year profits as the bank pushes ahead with a digital strategy implemented by new boss John Flint.

Meanwhile, office space firm IWG saw shares plunge by 20 per cent after announcing that all acquisition talks are off. 

 

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