News World Stronger pound hits FTSE 100 after best August since 2014

Stronger pound hits FTSE 100 after best August since 2014

A stronger pound led London’s FTSE 100 lower on Tuesday after the index notched its strongest August in six years on optimism that the worst of the pandemic’s economic damage was over.

The FTSE 100 was down 0.6% after being closed on Monday for a bank holiday. The mid-cap index FTSE 250 fell 0.2%, led by industrial, financial and consumer discretionary stocks.

AstraZeneca Plc rose 0.8% as it said its Imfinzi had been approved in the European Union to treat an aggressive form of lung cancer in previously untreated adult patients.

Asian and European stock markets edged higher after strong readings on China’s vast manufacturing sector offset a weak lead from a softer Wall Street session overnight.

(Reuters)

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