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FTSE 100 sees numbers fall despite the new retail updates

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Why has there been a fall?

The UK market has fallen even though a lot of good news has come from retail updates this week.

The FTSE 100 has been doing well in recent weeks, on Wednesday it closed on its 10th record high. However, it was down 5.51 points at 7,284.98 by midday.

Tesco’s shares saw a fall of 2.3 per cent, despite the fact it reported a 0.7 per cent rise in like-for-like sales in the UK.

Marks & Spencer did better than expected in the updates, it shares are up by 1.1 per cent.

On the currency markets, the sterling rose against the dollar after the US currency weakened after a news conference was held with President-elect Donald Trump.

It fell after Trump did not give any details of his economic plans. The pound was trading 0.6 per cent higher against the dollar at $1.2279. However, it slipped against the euro by 0.1 per cent to €1.1526.




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