Economy

Sterling rallies against the euro as Britain heads to the polls

Sterling rallies against the euro as Britain heads to the polls

The sterling dropped more than two percent to $1.2702 against the USA dollar on Friday, moving closer to levels not seen since April 18, when Prime Minister Theresa May called the snap election to strengthen her hand in negotiations for the UK's exit from the European Union. Whilst none of London's shares can expect to remain entirely untouched by the latest sign of a much less certain political and economic landscape, we expect investor selectiveness to be clearest among the sterling-sensitive sectors we mentioned.

Jeremy Cook, the chief economist at World First, said sterling was moving as each seat was called through the night, with the currency staging brief recoveries every time it looked as if the poll had overemphasised Conservative weakness in the polls.

Amazon, Apple Facebook had surged year-to-date about 30 percent before Friday's selloff, while Microsoft and Google had gained a bit less.

Sterling was down 1.5 percent at $1.2764 after sliding to as low as $1.2693, down about 2 percent and the weakest since April 18. "If I get a sense the Fed or other central banks will start to close up shop on that, we're going to reduce risk", Ablin said.

DUP enters into discussions with Conservative Party
While the DUP has always been Eurosceptic, it does not want to see a hard border between Northern Ireland and the Republic. In the past, Corbyn has been a supporter of the left-wing Sinn Fein Party and the pro-independence Irish Republican Army.

European shares closed higher, erasing early choppiness.

Bets that another drop in sterling would flatter Global firms' profits pushed London's FTSE as much as 1 percent higher but it was up a more limited 0.4 percent by mid-session.

United Kingdom travel stocks and pub companies also fell, while the domestically exposed FTSE 250 index fell 0.5 per cent. Japan's Nikkei added 0.5 percent and MSCI's broadest index of Asia-Pacific shares outside Japan ended the day all but flat.

For the week, the FTSE 100 was on a track to fall 0.5% and the FTSE 250 was looking at a weekly decline of 1.4%.

Chris Christie votes for his lieutenant governor
POLLING HOURS & LOCATIONS: In New Jersey, the polls are open from 6:00 a.m. until 8:00 p.m Eastern Time. There are more than two million registered Democrats in New Jersey and about 1.2 million Republicans.

The pound shed nearly three USA cents in hectic trade, or close to 2 percent, while futures for the FTSE lost 0.5 percent on speculation the left-leaning Labour Party might actually be able to form a coalition government.

Meanwhile, the dollar edged higher against most of its rivals, recovering from the seven-month low it hit in the previous session. The dollar index, which tracks the greenback against six major rivals, was up 0.36 percent at 97.269.

The FTSE 100 index, whose members make more of their revenue overseas and benefit from a weaker pound, climbed 1 percent.

Oil prices rose after a pipeline stoppage in Nigeria, but crude ended the week down almost 4 percent on persistent worries about global oversupply.

Three men detained after unscheduled easyJet landing in Cologne
Federal police seized a backpack that belonged to one of the men, and exploded it outside of the aircraft, police said. This May 28, 2008, file photo shows an easyJet passenger plane departing from Schoenefeld airport in Berlin, Germany.

USA crude futures was flat at $45.63 a barrel, with Brent crude at $47.84. Highly rated sovereign bonds were in demand with USA 10-year Treasury futures gaining 2 ticks. The largest office developers also signalled in their recent annual results a deceleration in the pace of building as a high point in the cycle for both land prices and office space dents development economics, and as rents drift off the highest prices since the financial crises.


  • Videos show rescue of rape victim, serial killer confessions

    Videos show rescue of rape victim, serial killer confessions

    She and boyfriend Charlie Carver thought nothing of it when they agreed to go to his isolated SC property to clean a garage. While on the SC property owned by Todd Kohlhepp , they heard Brown's screams coming from inside a metal storage container.

    Qatar crisis: Russian minister Sergey Lavrov to meet Gulf nation's foreign minister

    Saudi Arabia , UAE, Egypt and Bahrain on Friday put dozens of figures and entities with links to Qatar on terrorism blacklists.
    Polls Predict Macron could Win Majority in French Parliamentary Ballot

    Polls Predict Macron could Win Majority in French Parliamentary Ballot

    That appears unlikely, given French voters' disaffection with traditional parties. Part of its electorate has left for Macron, others for Melenchon's party.
  • Warriors near sweep of Cavs

    Warriors near sweep of Cavs

    None won as dominantly as this team, which has four versatile All-Stars - including two former league MVPs - in their prime. Cleveland passed the previous mark set by the Philadelphia 76ers when they scored 135 points in 1982 against the Lakers.

    Cleveland Cavaliers deny Golden State Warriors historic series win

    James finished with 31 points, 10 rebounds, 11 assists and on one trip threw the ball off the backboard to himself for a dunk. Without Green in the lineup, the Cavs took Game 5 on the road behind 82 combined points from LeBron James and Kyrie Irving .
    Hollywood pays homage to 'Batman' icon Adam West

    Hollywood pays homage to 'Batman' icon Adam West

    He enjoyed a newfound level of popularity by voicing a fictionalized version of himself on the Fox animated series Family Guy . Batman: Return of the Caped Crusaders (dir.: Rick Morales) saw a theatrical release and received critical acclaim.
  • Sturgeon presents SNP as last line of defense against Tories

    Sturgeon presents SNP as last line of defense against Tories

    The Scottish Parliament has now underlined that mandate. 'But this election will not decide if Scotland becomes independent'. Pressed on Mr Corbyn's position, she accused the interviewer of having "picked one 10-second quote".
    DUP to support minority Tory government after `confidence and supply┬┤ deal reached

    DUP to support minority Tory government after `confidence and supply┬┤ deal reached

    The socially conservative , pro-British and largely Protestant party finds itself in the unlikely position of possible kingmaker. For the Conservatives to have an overall majority, they are reliant on the support of the ten MPs from Ulster.
    Champions Trophy: Virat Kohli urges India to keep cool

    Champions Trophy: Virat Kohli urges India to keep cool

    There will be a lot of things discussed, what went wrong and what combinations we can come out with in the next game. Mathews said he was happy that Sri Lanka's traditional Papare band was present in full force at the Oval yesterday.
  • Burt Ward Remembers 'Batman' Co-Star Adam West: 'I Will Forever Miss Him'

    Burt Ward Remembers 'Batman' Co-Star Adam West: 'I Will Forever Miss Him'

    West also voiced characters on Adventures of Batman , Legends of the Superheroes, and The Simpsons . You were MY Batman ." wrote Baby Driver director Edgar Wright on Twitter .
    Farrell kicks Lions to victory over Crusaders

    Farrell kicks Lions to victory over Crusaders

    Both reports praised the Lions' half-back partnership of Conor Murray, Owen Farrell and of course, Jonathan Sexton when he entered the fray.

    Actor Adam West dies at 88

    Born William West Anderson in Walla Walla, Washington, he moved to Seattle at age 15 with his mother after his parents divorced. He notched up a number of other TV roles while younger audiences will recognise him for voicing Mayor Adam West in Family Guy .