We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now


It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

FTSE 100 watch: Stronger pound and Trump speech weigh on Footsie

Share On Facebook
share on Linkedin

The FTSE 100 index has started the week in negative territory, pressured by a stronger pound and protectionism concerns following US President Donald Trump’s inauguration speech on Friday. Paddy Power Betfair (LON:PPB) meanwhile has fallen to the bottom of the blue-chip leaderboard after updating investors on its recent performance.

As of 12:11 GMT, the Footsie had lost 28.38 points to stand 0.39 percent lower at 7,170.06. The benchmark index has been pressured by a rise in the pound which is weighing on blue-chips with international exposure.

“Though Theresa May’s pair of speeches last week has helped sterling by somewhat clarifying Britain’s Brexit position […] it seems that Monday’s cable gains are more a case of dollar weakness than pound strength,” Connor Campbell at Spreadex said in a morning note. The greenback has retreated in the wake of Trump’s speech which is also weighing on stock markets.

“The market’s response to Trump’s speech was one of disenchantment,” BayernLB analyst Alexander Aldinger told Reuters. “Even though the speech was radical for the inauguration of an American president, it was relatively moderate by Trump’s standards. Its focus was on his ‘America first‘ policy.”

In individual movers, Paddy Power Betfair’s share price has lost 2.71 percent to 8,440.00p so far in today’s session, after the company posted a drop in fourth-quarter revenue on account of adverse sports results, coupled with some weakness in gaming.

The FTSE 100 was 0.40 percent down at 7,169.91 points as of 12:21 GMT on Monday, 23 January 2017.

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This article was provided by Windsor Brokers. Click here for more information.

This area of the site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

Do you want to write for our Newspaper? Get in touch:

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

Support: 1-888-992-3836 |