FTSE 100 gains as pound dips on rising election chances

Credit: REUTERS/PETER NICHOLLS

London's main index rose for a fifth straight session on Tuesday as weakness in sterling due to the growing risks of an election brought gains for some internationally-focussed stocks, while inkjet technology firm Xaar tanked after warning on results.

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FTSE 100, FTSE 250 up 0.2%

Exporters, oil majors among biggest boosts

Ferguson gains on demerger plans

Inkjet technology firm Xaar plunges to 10-yr low

Sept 3 (Reuters) - London's main index rose for a fifth straight session on Tuesday as weakness in sterling due to the growing risks of an election brought gains for some internationally-focussed stocks, while inkjet technology firm Xaar tanked after warning on results.

The FTSE 100 .FTSE was up 0.2%, outperforming its European peers and Asian markets that were bogged down by the U.S.-China trade tensions, and the FTSE 250 midcap index .FTMC also rose by the same measure by 0710 GMT.

Plumbing products company Ferguson FERG.L climbed 3%, taking the top spot on the main index, after saying it would separate its UK operations.

Among results-driven moves, Restaurant Group RTN.L tumbled 7% to the bottom of the FTSE 250 after posting a loss versus a year-ago profit, while small-cap XAAR XAR.L plunged 29% to a 10-year low after warning on annual results.

(Reporting by Muvija M in Bengaluru; Editing by Sriraj Kalluvila)

((muvija.m@tr.com; within UK +44 20 7542 1810, outside UK +91 80 6749 3638;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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