FTSE rallies for seventh day in a row as pound slips | Malay Mail

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FTSE rallies for seventh day in a row as pound slips | Malay Mail
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LONDON, Dec 20 ― London's exporter-heavy FTSE 100 hit a more than four-month high yesterday partly in response to a weaker pound, which came under pressure from fears Britain may leave the European Union without a trade deal at the end of 2020. The FTSE 100 was up by 0.4 per cent, rising for the...

The FTSE 100 was up by 0.4 per cent, rising for the seventh straight session. ― Reuters pic

The euphoria around Boris Johnson's win carried into this week but was soon overshadowed by fears of a chaotic Brexit after the government set a hard deadline of December 2020 to reach a new trade deal with the European Union. “Now that the dust has settled from the UK general election, and the US-China trade deal, dealers don't know which way to look,” CMC Markets analyst David Madden said.

The Amsterdam-listed companies increased their bids, with Prosus offering 800 pence a share and Takeaway.com raising its all-share offer which values Just Eat at 916 pence per share based on its closing price on Wednesday.

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