Banks such as Lloyds TSB, Barclays and National Westminster led the gains as they will be prime beneficiaries from the shared official interest rates within EMU, which will be lower than current UK rates. Engineering stocks like Siebe and TI Group also rose. They are heavily dependent on export earnings and will enjoy an improved competitive advantage as the value of sterling falls against European currencies.
Companies reporting this week include McKechnie, Chiroscience and Manchester United.
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