FTSE 100 LIVE: Stocks rally as investors seize on Brexit fears – pound plunges on worries

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On Wednesday the FTSE 100 grow by 82 points to close at 6,012. With tensions between Britain and the EU over Brexit continuing to mount, the pund dropped in value,  sparking investmnet opportunities in the index.

The UK Government has published it’s Internal Markets Bill, which proposes overriding aspects of the EU withdrawal agreement signed between the two trading partners last autumn.

Brussels has warned Britain will be breaking international law if it renegades on the treaty.

The row took its toll on the FTSE 250 yesterday as the UK company focused index finished 30 points down on the start of the day.

Further developments in the Brexit row today could cause the FTSE 100 to rally even further.


6am update: Wednesday trading re-cap

London’s blue-chip index ended higher on Wednesday as weakness in the pound looked to benefit major exporters, while the mid-cap index was held back by consumer stocks on fears of new restrictions on social activity.

The FTSE 100 ended 1.4 percent higher as uncertainty over Brexit talks weighed on the pound. Stocks such as British American Tobacco and Unilever, which make a bulk of their revenue overseas, were the biggest boosts to the index.

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