Sterling jumps over 1pc on Brexit hopes

Sterling jumps over 1pc on Brexit hopes

The FTSE 100 was up 0.354pc at 7,153.33 during midday trading, despite heavy losses from oil giants BP and Royal Dutch Shell, down 2.49pc and 1.94pc respectively.

Brent crude was down 0.68pc at 74.53 on course for a fourth consecutive weekly decline as increasing crude supplies met concern over global growth.

Sterling rallied 1.1pc higher to $1.2908 against the dollar after a UK official said London was close to securing a deal that would allow UK-based financial services firms basic access to the European Union markets.

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