The London stock market may extend recent gains this week as investors digested the outcome of the last weekend’s international finance meeting in Washington amid fresh economic data and company results.
By Friday on the London Stock Exchange, the benchmark FTSE 100 index finished the week at 5,657.61 points, up 1.16 per cent from a week earlier.
Last weekend, major world powers gathered in Washington to try and avert a damaging global ‘currency war’ and addressed the weak level of the dollar.
With recovery slowing, recent weeks have seen some nations intervene to stop their currencies from rising to levels that would make their exports prohibitively expensive.
That has sparked talk of a currency war and cast a shadow over global financial markets.
Finance ministers and central bankers from 187 countries are convening for the annual meeting of the International Monetary Fund amid concern that currency policies could wreck the fragile global economic recovery.
‘From a currencies perspective, many will look to developments at the ... meeting to see if there is anything done to stop the dollar from weakening,’ said City Index analyst Joshua Raymond.
Agence France-Presse . London
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