Home news FTSE 100 flat as Burberry shares fall again

FTSE 100 flat as Burberry shares fall again


Shares in Burberry fell again, a day after the luxury fashion group unveiled plans to move further upmarket.After dropping 10% on Thursday, it slid a further 3% in early trade.That made Burberry the biggest faller on the FTSE 100, but the benchmark share index was little changed, down just 1.66 points at 7,482.44.In the FTSE 250, Ultra Electronics dived 8% after the defence firm said a decision on its purchase of US firm Sparton was set to be delayed.Ultra Electronics announced in July it would buy Sparton, which makes anti-submarine devices, for $234m.However, it said in September that the US Department of Justice had asked for more information, and it now expects the department to make a decision at the end of March.On the currency markets, the pound was unchanged against the dollar at $1.3147 and was also flat against the euro at €1.1292.
Source: BBC