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FTSE 100 set to snap two-week winning streak as lockdowns, Brexit weigh

Credit: REUTERS/PETER NICHOLLS

London's FTSE 100 rose on Friday as a weaker pound boosted shares of exporters, although gains were capped by Brexit-related uncertainty and new lockdowns to contain a resurgence in cases of the novel coronavirus.

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FTSE 100 up 1%, FTSE 250 adds 0.8%

Oct 16 (Reuters) - London's FTSE 100 rose on Friday as a weaker pound boosted shares of exporters, although gains were capped by Brexit-related uncertainty and new lockdowns to contain a resurgence in cases of the novel coronavirus.

The blue-chip index .FTSE climbed 1%, with energy .FTNMX0530, travel and leisure .FTNMX5750, and homebuilding .FTNMX3720 stocks leading the declines. The FTSE 100 had hit a near-two week low in the previous session

The mid-cap FTSE 250 index .FTMC gained 0.8% on Friday.

However, both the indexes were on course for their first weekly decline in three weeks as investors sought more details about the Brexit trade deal negotiations.

Prime Minister Boris Johnson on Friday will set out his approach to an agreement, a day after the European Union told Britain to compromise on their new economic partnership or stand ready for trade disruptions in less than 80 days.

In company news, Man Group Plc EMG.L jumped 5% after the hedge fund manager reported a 4.4% rise in funds under management as of September-end aided by market recovery.

(Reporting by Devik Jain in Bengaluru)

((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2062; ;))

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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