The UK’s FTSE 100 index touched a six-week closing high on Monday, bolstered by a slip in the value of sterling that favored international firms reliant on a strong dollar.
Despite global market fluctuations, the FTSE 100 managed a 0.3% rise, hitting its best performance since October 21 as November closed with a modest 2.2% gain. The pound’s 0.8% drop against the dollar brought relief to giants like Unilever, HSBC, and Anglo American, which draw significant revenue in dollars.
In contrast, the FTSE 250 remained flat, as investors monitored political dynamics in France. French equities rebounded following Prime Minister Michel Barnier’s unexpected concession to Marine Le Pen’s National Rally, lifting plans to cut medications reimbursements to secure his 2025 budget plan.
Chris Beauchamp, chief market analyst at IG, labeled the trading day as one of “diverging fortunes” within Europe, pointing to the FTSE 100’s steady performance…
