CNBC’s UK Exchange newsletter: UK backs innovation hub Cambridge, even as rapid expansion tests the city’s limit
This report is from this week’s CNBC’s UK Exchange newsletter. Like what you see? You can subscribe
In the markets
London-listed stocks continued to perform well this week, with the FTSE 100 hitting new highs on Tuesday, buoyed by the ongoing global tech stock rally. The U.K. index advanced 2.9% since last Wednesday.
It’s been a busy week for earnings, which saw Gucci-owner Kering, Porsche and a bevy of banks among those that reported quarterly results.
The British pound ended Tuesday at its lowest point, weakening around 0.7% against the U.S. dollar from a week earlier. Yields on the U.K. government’s 10-year bonds, known as gilts, were lower from last Wednesday, moving to 4.397 from 4.486 as investors anticipate the Bank of England’s decision on rates and the U.K.’s budget next month.
The performance of the Financial Times Stock Exchange 100 Index over the past year.
— Tasmin Lockwood
Coming up
Oct. 29: Bank of England mortgage data for September
Oct. 31: Nationwide house price data for October
Nov. 5: New U.K. car sales for October
— Holly Ellyatt
