Jan 24 (Reuters) – Britain’s FTSE 100 fell on Friday, as a jump in sterling hurt export-oriented firms, while Burberry soared after a strong U.S. holiday season helped the luxury firm beat quarterly sales expectations.
The blue-chip FTSE 100 (.FTSE), dropped 0.7%, but still looked on course for its fifth straight week of gains.
The benchmark hit a record high this week, as global stocks surged on signs that U.S. President Donald Trump was taking a softer stance towards tariffs against China and looking to boost the U.S. economy by lowering taxes and making big AI investments.
Sterling hit a two-week high against the dollar on Friday as a lack of concrete tariff policies during Trump’s first week in office hurt the dollar, and in turn weighed on shares of global companies such as Shell (SHEL.L), and HSBC (HSBA.L), opens new tab.
UK-listed global miners such as Antofagasta (ANTO.L), opens new tab, Glencore (GLEN.L), and Rio Tinto (RIO.L),…
