FTSE 100 Climbs Higher on Brexit Fears

The FTSE 100 has hit a new intraday high this morning, pushed on by weak sterling – ahead of a speech tomorrow by Prime Minister Theresa May

Morningstar News Team 16 January, 2017 | 9:44AM
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The FTSE 100 has hit a new intraday high this morning, pushed on by weak sterling – amid Brexit fears. The pound suffered market jitters ahead of a speech tomorrow by Prime Minister Theresa May at Lancaster House in London. May is expected to set out the UK government's position in the negotiations with the European Union on Brexit, ahead of the triggering of article 50 by the end of March.

The FTSE 100 opened up 0.2%, or 12.98 points, at 7,350.79. On Friday, the blue-chip index closed at a record high for a 12th consecutive trading day, its 14th consecutive session finishing higher. On Monday after the open, the index touched a new record intraday high of 7,354.14.

Just after the open in London, banking stocks were among the biggest fallers in the FTSE 100, with Royal Bank of Scotland Group (RBS) down 2.3%, Lloyds Banking Group (LLOY) down 1.3% and Barclays (BARC) down 1.2%. The biggest gainers in the blue-chip index were miners, with Fresnillo (FRES) up 2.9%, Anglo American up 2.8% (AAL) and Glencore (GLEN) up 2.3%.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Anglo American PLC2,762.50 GBX-1.99Rating
Barclays PLC199.46 GBX-1.65Rating
Fresnillo PLC855.00 GBX-3.50
Glencore PLC360.10 GBX-2.65Rating
Lloyds Banking Group PLC48.96 GBX-0.08Rating
NatWest Group PLC233.00 GBX-0.55Rating

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