LONDON Oct 11 Britain's top blue-chip and
mid-cap equity indexes rose on Tuesday, putting them within
reach of record highs even as sterling came under renewed
pressure on currency markets.
The blue-chip FTSE 100 index was up 0.1 percent at
7,107.76 points, near a record intraday high of 7,122.74 points
set in April 2015.
The mid-cap FTSE 250 index rose 0.3 percent to
18,024.73 points, near its record intraday high of 18,607.13
points set earlier this month.
The fall in sterling has given a boost to many of the FTSE
100's international companies which earn much of their revenues
in U.S. dollars, and therefore get a currency-related accounting
lift as those dollars are converted back to pounds.
The FTSE 250's companies are more exposed to the domestic UK
economy, but that index has partly benefited from recent upbeat
data that has led many forecasters to drop predictions that the
British economy will slip into recession this year.
Some analysts also expect the drop in the pound to make
British mid-cap companies cheaper and more attractive for
potential overseas acquirers.
(Reporting by Sudip Kar-Gupta; Editing by Mark Trevelyan)