FTSE 100 Breaks 7,400, But Politics May Deter Investors: LCG

By Anonymous

0725 GMT - The FTSE 100 rises 0.5% in early trade Tuesday, breaking above the 7,400 mark to reach its highest intraday level in more than a month at 7,411.50. A weak pound boosts U.K. stocks, in addition to a broadly brighter mood for equities, with both European and Asian stocks rising on the prospect of lower interest rates. Yet Ipek Ozkardeskaya, senior market analyst at London Capital Group, says one of the main reasons for the pound’s weakness--growing fears that the next Conservative Party leader could advocate the U.K. leaving the EU without a deal--may cause investors to shun U.K. stocks. “The UK’s ambiguous political...