FTSE CLOSE: Pound gives up gains despite raised hopes of Brexit deal

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FTSE CLOSE: Pound gives up gains despite raised hopes of Brexit deal; Carney extends his spell at Bank of England to 2020; Wages rise faster than expected at 2.9%

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The FTSE 100 had a choppy day of trading, opening on a high note, then trading down over 0.6 per cent, to then recover to close 5.76 points down at 7,273.54.  

The pound also had a volatile session, climbing after EU chief negotiator Michel Barnier’s indicated an increased willingness to compromise over Brexit, raising hopes of a deal being struck in time. 

But the move didn’t last long – and official employment figures showing a rise in wages and falling unemployment did not have much of an effect on sterling.

The pound was down 0.1 per cent against the dollar at $1.30 and flat against the euro at €1.12.    

Meanwhile, Mark Carney said he will stay on as the governor of the Bank of England until 2020, instead of June 2019 as previously thought. 

In companies news Debenhams shares have stabilized after a big sell-off yesterday, while fellow retailer JD Sports is doing much better, posting a jump in profits.

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