Sterling has risen by almost 1.2 cents against the greenback to hit US$1.3961.

The FTSE 100 was down 16 points (0.2%) but the FTSE 250, whose constituents tend to prefer a strong exchange rate, was up 25 points (0.1%) at 22,548. London’s leading shares are lower on balance, as sterling adds more than a cent against the dollar on foreign exchange markets. Shares of The Coca-Cola Company ( NYSE:KO) improved 0.6% to $54.02 after the company beat Street revenue and earnings expectations. 'Investors wil hope that earnings reports can provide fresh support in the other sessions of the week, given that the market is currently trading on high valuations and expectations and thus remains at risk of a sudden decline.' 'Aside from Coca-Cola, today has seen a lull in earnings season, although Netflix’s figures tomorrow promise a return to a more exciting period and a shift away from the bank-dominated opening days of reporting season,' Beauchamp wrote. In the US, the Dow was down 128 points, 0.4%, to 34,073 at midday. 'A quieter start to the week has seen stock markets drift back on a lack of news, with only the goings-on in European football providing some interest (for those keen on the game anyway),' IG Chief Market Analyst Chris Beauchamp.Ĭontributing to the slump is stronger sterling, which gained almost 1.2 cents against the greenback to hit US$1.3961.

The FTSE 100 retreated 19 points Monday, a 0.3% loss, to 7,000, while the FTSE 250 lost 31 points, 0.1%, to 22,491. Man United shares rise despite ESL dramaĥ.15pm: Markets slide on both sides of the pond.Sterling rises by 1.2 cents against the US dollar.

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