FTSE LIVE: Pound hits ten-year low against the euro as UK economy shrinks; William Hill profits plunge; Security giant G4S set for break-up
- William Hill said half-year profits plunged 47% amid changes to betting rules
- The pound has fallen to its lowest level in a decade against the euro
- Security contractor G4S confirmed plans to demerge its cash solutions business
Eyes will be on the ailing pound today, which is in the red at the open ahead of a number of UK economic reports – including the second-quarter GDP numbers.
Economists are widely expecting the UK economy to have stalled amid the US-China trade war and the reversal of previous Brexit stockpiling.
In company news, William Hill has seen half-year profits cut by almost half after it was hammered by the Government crackdown on fixed-odds betting terminals (FOBTs), and invested heavily in the US market.
And security contractor G4S confirmed plans to demerge its cash transporting business so that it can focus solely on on security.
The FTSE 100 opened in the red on this rainy Friday – down 0.4 per cent at 7,257.02