How London markets’ performed after the sterling reached near its three-year high? UK Market Update

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How London markets’ performed after the sterling reached near its three-year high? UK Market Update

The London markets traded in the green zone after sterling touched its nearly three-year high. FTSE 100 traded higher by around 0.30% pumped up by NatWest Group results, partially offset the disappointing retail sales data. The Office for National Statistics had reported an 8.2% month-on-month drop in UK retail sales during January 2021 as compared to an increase of 0.4% witnessed during December 2020.

British Bank NatWest Group had decided to wind down its Ireland business arm Ulster Bank due to its underperformance. The Company had reported a lower than expected full-year loss. Moreover, the shares jumped by around 3.68%.

Media giant Future shares surged by approximately 2.63% after its full-year FY21 profitability was set to remain ahead of market expectations. Furthermore, the Company had benefited from increasing online engagement during Black Friday and Christmas.

Real Estate Investment Trust Segro shares went up by around 3.12% after it had reported a 10.8% jump in full-year FY20 adjusted pre-tax profit. Moreover, the Company had declared a higher FY20 final dividend of 15.2 pence per share.

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