FTSE 100 dips as pound loses ground

    Market trader (file picture)Image copyright Getty Images

    The UK’s stock market slipped as the pound edged back below the $1.30 level.

    The benchmark FTSE 100 share index ended the week down 37.6 points at 7,312.72 at the close of trading.

    The pound dipped after figures showed a drop in UK households’ disposable income. The Office for National Statistics data also showed that the savings ratio had fallen to a record low.

    The pound ended at $1.2996. Against the euro it was unchanged at 1.13685 euros.

    Shares in United Utilities ended the session down 3.45% after Credit Suisse cut its rating on the stock to “underperform” from “outperform”.

    Outside the FTSE 100, shares in Game Digital dived nearly 35%% after the video games retailer issued a profit warning.

    The company said trading had been affected by lower than expected supplies of the Nintendo Switch console.


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