Global Shares Mixed, British Pound Weakens Against DollarTOKYO—Global shares were mixed Wednesday as traders braced for updates on inflation, retail sales, and corporate earnings.
The British pound weakened against the U.S. dollar after the governor of the Bank of England, Andrew Bailey, confirmed the bank will not extend beyond Friday an emergency debt-buying plan introduced last month to stabilize financial markets.
The pound fell by almost 1 percent to just below $1.10 after Bailey spoke, before rallying slightly. Financial markets reeled, with the currency hitting a record low of $1.03, last month after the government announced plans for tax cuts without saying how it would pay for them.
France’s CAC 40 gained 0.2 percent to 5,843.01, while Germany’s DAX was nearly unchanged at 12,219.06. Britain’s FTSE 100 edged 0.1 percent higher to 6,892.39. The future for the S&P 500 was 0.5 percent higher while that for the Dow industrials rose 0.4 percent....
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