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FTSE slips as sterling surges on rate speculation

Wednesday, 19th June 2019
The FTSE 100 closed down 0.5% at 7,403.54 as the pound was lifted by rumours of interest rate hikes later this year as the Bank of England prepares to meet tomorrow.

With the US Federal Reserve set to outline their own rate call later, the S&P 500 was broadly flat by 4.30pm UK time.

Magazine publisher Future fell 10%, adding to heavy losses yesterday, following Monday night's publication of a sell note on the company equity research firm Stockviews.


Rio Tinto dropped 4.3% as it cut its 2019 guidance for iron ore shipments from its Pilbara mine in Australia

Premier Inn hotel chain owner Whitbread gained 0.6% despite a 1% decline in first-quarter sales, pinned on weak trading conditions in the UK accommodation sector.

High-end house builder Berkeley fell 0.8% as a fall in annual profit nevertheless met the top end of market expectations.

AstraZeneca gained 0.5% after Japnese regulators approving separate treatments for lung disease and overarian cancer.

Over 50's services group Saga sank 12.7% on revealing that its tour operations business had been hurt by Brexit uncertainty.


Luxury handbag maker Mulberry gained 2.8% after it swung to a full-year loss, owing to lower sales in the UK.

Structural steel group Severfield fell 1% as it booked an 11% rise in annual profit underpinned by higher margins.

Vehicle tracking systems supplier Quartix gained 11% on announcing that it expected to 'at least' meet market expectations for its full-year earnings and cash flow.

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