FTSE LIVE: Sterling in focus as Britain’s 77th Prime Minister revealed; Fever-Tree’s UK growth slows; Supermarket sales fall for first time in 3 years
- After a turbulent week for sterling, the currency will be in focus again today
- Fever-Tree sales in the UK rose by only 5% amid ‘unseasonably poor weather’
- UK supermarket sales slipped 0.5 per cent year-on-year, according to Kantar
All eyes will be on the pound again today as the country’s 77th Prime Minister is revealed. Markets are widely expecting hard Brexiteer Boris Johnson to take up the mantle so a shock win for Jeremy Hunt could give the ailing currency a fillip.
Meanwhile, tonic maker Fever-Tree fizzed to sales and earnings growth in the first half of the year, but the firm was weighed down in its domestic market by gloomy weather.
And supermarket sales declined for the first time since June 2016, Kantar figures show, on the back of record sales during last year’s hot summer.
UK stocks were in the green at the open, at 7,559.44, while sterling continued to flash red