Ftse 100 misses out on record high close over brexit, us rate fears

FTSE 100 shares narrowly missed out on a record closing high on Tuesday after slipping back from record levels thanks to renewed Brexit fears which sent the pound below $1.23, as well as growing expectations of a US rate hike this year.

The UK’s benchmark index hit its highest ever level during trading at 7,129.83 shortly after midday. Electricity jewels But it then fell back to finish the day 0.4% lower at 7,070.88.

Analysts said investors eased back after shares had been lifted by the pound falling on fresh worries about the economic impact of Brexit. Electricity vs gas heating costs Sterling was back at levels seen during last week’s “flash crash” for the currency. Gas city indiana car show Former BoE governor Sir Mervyn King praised the belated weakness of the pound on Tuesday.

Firms with large foreign businesses, such as Burberry ( LON:BRBY), were among the big winners on Tuesday. Electricity billy elliot karaoke The fashion house’s shares ended up 2.5% at 1516p.

Shares in domestic companies, including housebuilders, were also doing well because of hints from the Bank of England that interest rates will remain low for a while. Gas hydrates wiki Building materials merchant Travis Perkins ( LON:TPK) was a top 4 riser, up 3.2% to 1475p while builders Taylor Wimpey ( LON:TW.) were in the top ten with a gain of 2.7% to 147.7p.

Media information group Informa ( LON:INF) was the top FTSE 100 faller, of 9% to 665p after its shareholders approved the acquisition of Penton Information Services, an independent US-based Exhibitions and Professional Information Services group for £1.2bn.

Miners made up most of the rest of the top-10 fallers, including Glencore ( LON:GLEN), Fresnillo ( LON:FRES), BHP Billiton ( LON:BLT) and Rio Tinto ( LON:RIO).

The UK-centric midcaps FTSE 250 index – which usually suffers while FTSE 100 exporters gain on a fall in sterling, actually rose on Tuesday, by 0.5% to 18,073.

Clothes retailers were the top gainers. Gas meter car N Brown Group ( LON:BWNG) ended up 16.5% to 205p after a solid half-year update and held dividend. K electric company duplicate bill Read more.

Chicago Fed president Charles Evans overnight remarked that stable rates may be soon coming to an end, sending expectations of a December US rate hike higher, and further undermining sterling vs the dollar.

We obviously put the hex on the FTSE 100 (see our earlier post). Gas jeans usa Like the Grand Old Duke of York, it marched all the way to the top of the hill and all the way down again.

Mid-afternoon, the index of blue-chip shares got up above the all-time intra-day high set 18 months ago, only for Wall Street to spoil the party.

The Dow Jones fell more than 120 points, or 0.7%, as the oil price slid and US investors came down with a bout of the jitters ahead of third quarter earnings season.

So heading toward the close the Footsie was trading 19 points lower at 7,078.66. Harry mileaf electricity 1 7 pdf Earlier in the session it got up to a nose-bleed inducing 7,129.83 before vertigo set in. E sampark electricity bill payment UPDATE AT 2.15PM

High Street bellwether Marks & Spencer ( LON:MKS) was top dog – up 4.17% to 335p as it basked in the general upsurge in retailers as the British Retail Consortium posted a monthly update.

It showed High Street and online spending showed like-for-like sales were up 0.4% on the year in September – that was a turnaround from August’s 0.9% drop.

In small caps, Greatland Gold ( LON:GGP) added over 24% to 0.18p as it kicked off drilling at the Ernest Giles gold project in Western Australia and expects the programme to take six weeks with assays to follow.

Other resource stocks on the up were Strategic Minerals plc ( LON:SML),up over 18% to 0.74p and Prairie Mining Ltd (LON:PDZ), which added over 37% to 16.5p as it told investors it had acquired the Debiensko Hard Coking Coal Project, a fully permitted, “mine ready” project of significant global scale.

The FTSE 100 hit a new intra-day high in early afternoon trade as it climbed 28.48 points to 7,125.98. Electricity grid uk That beat the previous landmark, recorded in April last year, of 7,124.69.

Leading the charge were retailers Next ( LON:NXT) and Marks & Spencer ( LON:MKS) after a cautiously optimistic monthly update from the British Retail Consortium.

We had a rebound from the builders, which fell on Monday, while fund manager Old Mutual ( LON:OML) and support services firm Capita ( LON:CPI) topped the losers’ list.

The index of leading shares is at 7,118, up around 20 points, and nearly at 7,122 – the previous highest intra day level seen in April last year.

Driving momentum is the higher oil price and the continued weaker pound, which benefits the leading share index – 70% of which is made up of firms which derive foreign income.

Low cost carrier EasyJet ( LON:EZJ) was among the laggards as fuel prices continue to hit airline groups and after EasyJet announced a profit warning last week. Gas stoichiometry calculator Shares flew 0.79% lower at 868.61p, while the biggest gainer on the blue chip index was hospitality and hotel group Whitbread ( LON:WTB), up 2.76% to 3,872p.

Closely watched online retailer N Brown Group plc (LON: BWNG) and FTSE 250 group saw shares surge over 14% to 201.30p as it reported strong growth in online sales.

In small caps, North Sea oiler Jersey Oil & Gas plc ( LON:JOG) gained over 8% to 66.75p as it continues to enjoy the market response to its farm out with major Statoil.

Costa Coffee owner Whitbread ( LON:WTB) topped the Footsie risers’ list with a 2.8% gain, followed by other consumer-led stocks Burberry ( LON:BRBY) and Next ( LON:NXT).