LONDON MARKETS: British Pound Falls As Attention Turns To EU And Possible Brexit Extension
October 24 2019 - 11:50AM
Dow Jones News
By Steve Goldstein, MarketWatch
The British pound weakened as markets awaited the European
Union's decision on whether to grant an extension to the U.K. to
leaving the bloc.
The pound fell to $1.2833 from $1.2914 as the Times reported the
EU will grant a second extension on Friday. The issue is the length
of the extension, with the newspaper saying French President
Emmanuel Macron only wants a two-week extension
(https://www.thetimes.co.uk/edition/news/boris-johnson-poised-for-election-call-as-eu-wrangles-over-brexit-extension-qvr2q5x9b),
and not until Jan. 31 as many had thought.
Meanwhile, U.K. Prime Minister Boris Johnson could make a third
attempt to trigger a general election.
The FTSE 100 meanwhile gained 0.91% to 7236.81, buoyed in
particular by stronger-than-forecast earnings
(http://www.marketwatch.com/articles/astrazeneca-climbs-as-new-cancer-drug-sales-soar-51571924545)from
AstraZeneca (AZN.LN) (AZN.LN) , which rose 5.7%.
Breadth was overwhelmingly positive on the London Stock
Exchange, with advancers outnumbering decliners 1507 to 870.
The Royal Bank of Scotland (RBS.LN) (RBS.LN) struggled, falling
3.1% as the bank reported a swing to a third-quarter loss due to a
provision to cover payment protection insurance costs
(http://www.marketwatch.com/story/royal-bank-of-scotland-swings-to-loss-after-higher-ppi-costs-2019-10-24).
(END) Dow Jones Newswires
October 24, 2019 11:35 ET (15:35 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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