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Mixed Start, UK's FTSE-100 Outperforms on GBP Weakness

EQUITIES

Continental equities are mixed, with most European indices lower (France's CAC-40 is weakest, lower by 0.9%) although the UK's FTSE-100 outperforms as the GBP currency takes a leg lower. Similarly, US futures are on the backfoot, resulting in a ~15 points decline in the e-mini S&P so far today.

Energy names and financials are leading declines, while defensive consumer staples and healthcare are the strongest sectors. Notable individual names include UK homebuilders, who are falling sharply on the negative Brexit newsflow. The likes of Persimmon, Berkeley Holdings and Barratt Development are lower by 5% or more.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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