Sterling set for second highest rise in 2018

Sterling set for second highest rise in 2018

The FTSE 100 was up 0.236pc at 7,298.73 at the midday mark, despite a strong performing UK currency.

Global mining giants helped the boost of the FTSE 100 with strong performances from Anglo American, BHP and Evraz, which were up 1.47pc, 1.21pc and 1.52pc respectively.

Brent crude bounced back to $78.38, up 0.26pc, after dropping by the most in a month during the previous session, as investor focus returned to supply concerns prior to a November deadline for US sanctions on Iranian crude.

Sterling was set for its second highest 2018 rise, trading at $1.3139 against the dollar, after the Bank of England upgraded growth forecasts at yesterday’s policy meeting and concerns faded over the outlook of emerging markets.

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