FTSE 100 Rises On Weaker Pound

(RTTNews) - U.K. stocks advanced on Friday as the pound continued to fall against a backdrop of rising coronavirus cases and the climate of uncertainty surrounding the economy.

Investors looked for signs of progress in Brexit negotiations, with Prime Minister Boris Johnson all set to reveal whether he will scrap EU trade deal talks.

The benchmark FTSE 100 rose 53 points, or 0.9 percent, to 5,885 after declining 1.7 percent on Thursday.

Luxury fashion house Burberry jumped 3 percent after French rival LVMH saw demand rebound in the third quarter.

Man Group shares surged 5.8 percent. The company said that funds under management rose 4 percent in the third quarter of 2020.

J D Wetherspoon plunged as much as 13 percent after it slumped to a £95m annual loss.

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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