FTSE 100 ends second week down on virus woes, pound strength

London, London’s FTSE 100 index closed its second week lower on Friday as traders headed into the long weekend worried about a choppy post-pandemic economic rebound.
The exporter-heavy FTSE 100 was down 0.6%, also pressured by the sterling which touched an eight-month high as the dollar fell in the aftermath of a speech by Federal Reserve Chairman Jerome Powell.
Reuters cited Bank of England Governor Andrew Bailey saying that the central bank has more ammunition to support the economy and that big, aggressive bond-buying pushes are most effective when crises strike.
Britain’s mid-cap FTSE 250 rose 0.2%, with homebuilders leading gains.

 

Source: Saudi Press Agency

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