FTSE LIVE: Weaker pound helps Footsie higher despite easier oil price

08.30: The Footsie pushed up towards record levels in early trading, tracking overnight gains in New York which offset lower Asian markets as oil prices retreated, lifted by a weaker pound which remained under pressure on ‘Hard Brexit’ concerns.

In opening deals, the FTSE 100 index was ahead 18.3 points at 7,115.8, extending yesterday’s  53.11 point advance made after crude prices surged above $53 a barrel on news Russian president Vladimir Putin has voiced support for a production cap.

The UK blue chip index is above the highest closing value reached to date of 7,103.98 but still below the intra-day peak of 7,122.74 reached on 27 April 2015.

US stocks ended higher last night, albeit below their best levels, but Asian shares were mostly lower today as oil prices slipped back from those highs hit on growing expectations of an output cut by Opec producers. In early London trade this…

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