FTSE 100 slips as pound weighs, midcaps gain

The blue-chip FTSE 100 fell 0.2% by 0807 GMT, underperforming its European peers that rebounded from a sell-off on fears about the highly infectious coronavirus variant in Britain. Domestically focused mid-cap FTSE 250 inched higher as a deal was reached with Paris to restore critical trade links between UK and other parts of Europe, ending a border blockade imposed to contain the new coronavirus strain.

UK's FTSE 100 slipped on Wednesday as a stronger pound weighed on the exporters, while midcap stocks rose as France agreed to lift a ban on freight from Britain imposed to contain a new coronavirus variant. The blue-chip FTSE 100 fell 0.2% by 0807 GMT, underperforming its European peers that rebounded from a sell-off on fears about the highly infectious coronavirus variant in Britain.

Domestically focused mid-cap FTSE 250 inched higher as a deal was reached with Paris to restore critical trade links between UK and other parts of Europe, ending a border blockade imposed to contain the new coronavirus strain. However, a British minister said the UK and the European Union have still not clinched a trade deal, with just eight days left before Britain exits the EU's orbit.

In company news, British pub operator Marston's rose 1% after it said it will operate Brains' 156 pubs in Wales in a deal that will save 1,300 jobs.