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London Markets: FTSE 100 pares loss, but pound’s rise keeps gain in check

U.K. stocks pared declines Friday, finding some relief after the pound pulled back from a six-week high, but blue-chips were still on course for their worst monthly performance in seven.

The FTSE 100 UKX, -0.46% was down 0.1% at 7,343.77. But that’s an improvement from a 0.5% loss intraday, courtesy of the pound retreating from trades above $1.13 against the dollar.

The London benchmark can be sensitive to pound moves, as a stronger value of sterling can hurt revenues made overseas by multinational companies when sales are repatriated into local currency.

The pound declined after the final reading of U.K.

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