London’s stocks slipped back from recent highs as the pound reached a 10-month high against the US dollar
The internationally-focused FTSE 100, of which many listed companies will be exposed to fluctuations in the dollar, closed down 0.5 per cent, breaking a six-day streak of gains.
The deal, worth about £839 million, will create new opportunities for customers and lead to cost savings and efficiencies from the overlap of the two firms, they said. Shares in Rathbones were up by 1.8 per cent and shares in Investec were 1.6 per cent higher at close. The pan-European Stoxx 600 index rose 0.02 per cent while MSCI’s gauge of stocks across the globe shed 0.11 per cent.Wall Street’s main indexes slipped as evidence of a cooling economy exacerbated worries of a recession with investor bets shifting in favour of a pause in the Federal Reserve’s interest rate hikes in May.
At 11.41am eastern time, the Dow Jones Industrial Average was down 0.64 per cent; the S&P 500 was down 0.55 per cent; and the Nasdaq Composite was down 0.45 per cent.
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