UK Stocks Up on Weaker Pound (Market Trading)
October 22, 2019โข155 words
The FTSE 100 rose 49 points, or 0.7% to 7,212, amid a weaker pound due to rising expectations that the UK PM Boris Johnson would force general elections before Christmas if his Brexit timetable is not approved by parliament and the EU grants a 3-month extension as requested. Also, Just Eat shares jumped 25%, after the online takeaway platform rejected a third Prosus offer of GBP4.9 billion saying it underscores the significant long-term potential and strategic value of the company and reaffirmed its backing for a planned merger with Takeaway.com. Meanwhile, other major European stock markets closed little changed: the DAX 30 added 7 points, or 0.1% to 12,755; the CAC 40 gained 9 points, or 0.2% to 5,658; and the FTSE MIB finished near the flat line at 22,487; while the IBEX 35 went down 22 points, or 0.2% to 9,380.