Pound and FTSE steady in early trade

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The pound edged higher in early trade, having fallen on Monday as the fallout from last week's shock election result continued to reverberate.

Sterling was up about 0.2% against the dollar at $1.2680 and also climbed 0.2% against the euro to 1.1327 euros.

Shares also saw modest gains, with the FTSE 100 up 0.2%, at 7,529.30.

But shares in Madame Tussauds and Alton Towers owner Merlin Entertainments fell 3% after it said recent terror attacks had led to fewer visitors.

Merlin said the terror attack in Westminster on 22 March led to a "softer domestic, day-trip market".

"However, the subsequent attacks in Manchester and London over the past month have resulted in a further deterioration in domestic demand and, given the typical lag between holiday bookings and visitation, we are also cautious on trends in foreign visitation over the coming months."

In the FTSE 250, shares in Capita jumped 12% after the outsourcing company reported signs of recovery.

It said it expected profitability to improve in the second half of the year, with trading predicted to improve steadily.

BBC

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