FTSE held again by new falls in South Africa-linked shares

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Shares in firms with robust hyperlinks to South Africa, led the checklist of 100 firm fallers on Tuesday.

Outdated Mutual was down three% and Mediclinic and Investec down virtually as a lot after S&P on Monday night time downgraded South Africa’s credit score standing to junk.

Buyers appeared to take the view the nation’s forex, the rand, had suffered sufficient in the meanwhile. It was up about 1% in opposition to the pound at 17.22 and in opposition to the greenback at 13.81.

The FTSE 100 was up 38.7 at 7,321.40.

Supermarkets William Morrison and Sainsbury shares had been down a contact after Kantar Worldpanel launched its newest summation of market share.

Creativeness Applied sciences, whose shares on Monday plunged 62% to 103p after tech big Apple mentioned it could end a deal to use its products., noticed a small restoration of 5% in early commerce.

The pound was down zero.four% against the dollar at $1.2428 and zero.three% decrease against the euro at 1.1663 euros.