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FTSE 100 slips as pound recovers, Diageo slides

FTSE 100 slips as pound recovers, Diageo slides
FILE PHOTO: A broker looks at financial information on computer screens on the IG Index the trading floor in London, Britain February 6, 2018. REUTERS/Simon Dawson -
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SIMON DAWSON(Reuters)
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(Reuters) – Britain’s main index edged lower on Friday as exporter stocks took a hit from a rise by the pound to near two-month highs, while energy supplier SSE shone after agreeing a deal to sell its retail segment.

The FTSE 100 <.FTSE> fell 0.1%, with international companies including AstraZeneca <AZN.L> and Unilever <ULVR.L> weighing the most, while the more domestically-focussed FTSE 250 <.FTMC> inched 0.1% higher.

Diageo <DGE.L>, the world’s largest spirits company and another stock sensitive to moves in sterling, lost 2%. Reuters reported on Thursday that unions were demanding a 5% pay rise for workers due to go on strike in Scotland later this month.

Among midcaps, Woodford Patient Capital Trust <WPCT.L>, money manager Neil Woodford’s listed fund, fell 7% after the trust’s administrator cut the valuation of one of its holdings.

(Reporting by Yadarisa Shabong and Muvija M in Bengaluru)

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