LONDON Oct 7 Futures on Britain's top shares
index rose on Friday, with a new slump in sterling expected to
give a lift to the shares of internationally active companies,
which often benefit from a weaker pound.
Britain's FTSE 100 futures were up by 0.5 percent,
outpacing a slight dip in futures on the Euro STOXX 50
and Germany's DAX. France's CAC futures edged up
Sterling recouped some of its losses after a precipitous
plunge to a new 31-year low on Friday, but traders said it
remained vulnerable to renewed selling due to fears Britain will
pursue a "hard" exit from the European Union.
The FTSE 100's international companies earn much of their
revenues in dollars, and a weaker pound typically helps
exporters as well.
But the slump in sterling has also impacted the dollar value
of FTSE 100 stocks, a potential negative for overseas investors
for whom the dollar is the benchmark currency.
(Reporting by Sudip Kar-Gupta; editing by John Stonestreet)