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London Markets: FTSE 100 ends in the red as pound gains on Brexit deal hopes

The U.K.’s main stock index finished slightly lower Thursday, as banks got a boost from reports of a potential Brexit-related breakthrough, but so did the pound, which worked against the FTSE 100’s exporters.

How markets are performing

The FTSE 100 UKX, -0.19% traded 0.2% lower to close at 7,114.66, after Wednesday’s gain of 1.3%. For the month of October, the index fell 5.1%, its worst month performance since a 5.6% drop in June 2013.

The pound GBPUSD, -0.0615% strengthened to $1.2913 from $1.2767 late Wednesday.

What’s moving markets

Sterling’s gains came after the Times of London reported that government sources indicated a tentative deal had been reached to allow U.K.

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