FTSE LIVE: Sterling in the red again as no-deal Brexit looms; UK inflation stagnant at 2%; Ladbrokes owner pounded by gambling clampdown
- Ladbrokes and Coral owner GVC said UK retail gaming revenues dropped 19%
- Inflation is expected to have been stagnant in June amid Brexit uncertainty
- At 8am, £1 buys $1.2401 and €1.1065 after falling to 27-month lows on Tuesday
GVC – the gambling firm behind Ladbrokes and Coral – said today that its UK gaming revenues dropped 19 per cent in the last three months, following a clampdown on fixed-odds betting terminals.
Last month, its bookmaking rival William Hill revealed plans to shut down 700 shops as it reeled from the new Government restrictions and a shift to online betting.
The rate of inflation was unchanged last month – stagnant at 2 per cent as the economy remains subdued amid Brexit uncertainty.
All eyes will be on the struggling British pound today after it ignored yesterday’s stellar jobs figures and plummeted to 27-month lows against the dollar.
All eyes will be on the British pound today after it ignored yesterday’s stellar jobs figures