Europe: Upbeat earnings, weaker pound lift FTSE 100 to more than 2-week high

[BENGALURU] Britain's FTSE 100 hit its highest level in more than two weeks on Tuesday, helped by broad gains on a combination of generally positive corporate results from Wall Street and Europe and bets that major central banks would cut interest rates soon.

The domestically-focussed FTSE 250, which has broken ranks with the local currency in recent months, defied the drop in the pound and rose 0.5 per cent."For the currency, a lot of the negative aspects have already been built in, some not only having to do with Johnson but also the overall state of the UK economy," Cityindex analyst Fiona Cincotta said.

If that materialises, it would be the first back-to-back quarterly earnings decline since the second and third quarters of 2016, marking an earnings recession.

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