UK’s main stock index rose on Tuesday as weak currency benefited some internationally focused consumer sectors, although Vodafone fell after forecasting a large decline in fresh cash flow.
After announcing job layoffs and a 1.5 billion euro ($1.65 billion) free cash flow decline this year, the telecom giant’s stock (VOD.L) slumped 4% to become the FTSE 100’s worst loser.
The blue-chip FTSE 100 jumped 0.2%, and the mid-cap FTSE 250 (.FTMC) gained 0.1%.
After UK unemployment unexpectedly rose in the first quarter, the pound fell on hopes of a Bank of England rate rise pause.
Unilever Plc (ULVR.L) and British American Tobacco Plc (BATS.L) shares rose as the currency fell.
Industrial metals miners (.FTNMX551020) fell 0.2% as copper prices fell on investor concerns of a slowing Chinese economy.
After predicting a better financial year, Boohoo Group Plc (BOOH.L) rose 11.8%.
