Stronger pound, industrials drag FTSE 100 lower ahead of April PMI data

  • Reuters
  • Stock Market News
Stronger pound, industrials drag FTSE 100 lower ahead of April PMI data

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* FTSE 100 down 0.4%, FTSE 250 off 0.3%

April 23 (Reuters) - London's FTSE 100 slipped on Friday as industrial stocks fell and a stronger pound weighed on export-oriented companies, while investors awaited a flash reading on business survey data for April later in the day.

The exporter-heavy index .FTSE declined 0.4%, with large dollar-earning consumer staples companies Unilever ULVR.L , Diageo DGE.L , and British American Tobacco (JO: SNHJ ) BATS.L slipping between 0.3% and 0.9% as the pound strengthened. GBP=

Heavyweight oil majors BP Plc BP.L and Royal Dutch Shell RDSa.L also fell and were among the biggest drags to the index.

The domestically focussed mid-cap FTSE 250 index .FTMC slipped 0.3% even as official data showed British retail sales soared past expectations to jump by 5.4% in March from February before the lockdown eased. survey showed that consumer sentiment touched a 13-month high this month as the economy reopened partially. operator FirstGroup's shares FGP.L gained 13.1% after the company agreed to sell two North American bus businesses to EQT Infrastructure for $4.6 billion, including debt.

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