FTSE 100 goes down
On Friday, British stocks dropped, feeling the pinch from the sterling’s soar and tracking losses in American markets, as the FTSE 100 headed for its worst trading week for 10 months.
The FTSE 100 sagged 1.2%, being worth 6,706.68, with only a handful of stocks moving up. The index found itself on track for a fifth straight daily loss.
The move arose after American stocks closed lower on Thursday, because the S&P 500SPX lost 0.44%, thus marketing its eight dip in a row and matching its longest losing streak since October 2008. As for European shares, they were also heading south, pushing the Stoxx Europe 600 SXXP down 0.6%.
Worries as for the outcome of the White House race have been unsettling financial markets, as surveys demonstrate the gap narrowing between Republican nominee Donald Trump as well as his Democratic opponent Hillary Clinton.
A great number of blue-chip shares have been deriving benefits from the drop in the sterling, as foreign earnings for multinational companies are boosted when converted into the British pound.