Markets 

Stronger pound dents FTSE 100; Lloyds rises

FILE PHOTO: A street cleaning operative walks past the London Stock Exchange Group building in the City of London financial district, London, Britain, March 9, 2020. REUTERS/Toby Melville

(Reuters) – Britain’s main stock index fell on Wednesday as a stronger pound weighed on exporters, while Lloyds Banking Group rose 1.4% after the bank resumed a dividend despite a sharp drop in annual profit.

The blue-chip FTSE 100 index was down 0.5% by 0812 GMT as sterling rose to a three-year high against the dollar. [GBP=]

Financial and healthcare stocks, mainly HSBC Holdings, AstraZeneca, and GlaxoSmithKline, were the biggest drags to the index.

The mid-cap FTSE 250 index gained 0.2%, led by consumer discretionary and industrials stocks.

Metro Bank fell 3.9% as it posted a much bigger annual loss and said it expects defaults to rise through the year as government support measures set in place due to the COVID-19 crisis are wound down.

Consumer goods maker Reckitt Benckiser rose 0.9% after it capped 2020 with the strongest sales in its history.

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