Jul 18, 2017

FTSE 100 falls despite Royal Mail boost

Shares in Royal Mail rose 3.5% in early trade as the company reported a small rise in revenues. Group revenue in the three months to 25 June rose 1%, helped by its Europe-wide parcels business GLS. In the UK, the volume of letter deliveries fell again, although general election political mailings helped to slow the decline. Royal Mail was the biggest riser on the FTSE 100, but the index was down 22.59 points at 7,381.54. Shares in property developer British Land rose 2.7% after it announced a £300m share buyback programme. Anglo American dropped 1.8% and BHP Billiton fell 1.6%. On the currency markets, the pound rose 0.3% against the dollar to $1.3099 but was flat against the euro at 1.1376 euros.

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