FTSE 100 dips as pound loses ground


Market trader (file picture).

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.