Sterling takes a pounding as Euro soars on back of Mario Draghi comments

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"2">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>The pound tumbled to an eight-month low against the euro after European Central Bank &lpar;ECB&rpar; president Mario Draghi signalled potential changes to its bond buying programme could be discussed in the autumn&period; The news sent the euro soaring&comma; knocking the pound down 1&period;3&percnt; to trade at 1&period;116 against the European currency&comma; marking its lowest point since early November&period;<&sol;p>&NewLine;<p>Sterling was also in the red versus the US dollar&comma; down 0&period;3&percnt; at 1&period;298&period; Investors have been closely watching the ECB for any news of monetary policy tightening&comma; which would signal growing confidence in the eurozone economy&period;<&sol;p>&NewLine;<p>Neil Wilson&comma; a senior market analyst at ETX Capital&comma; said&colon; &&num;8220&semi;Draghi offered precious little new but what he did let slip is that the Governing Council is likely to discuss tapering in the autumn&period;&&num;8221&semi;<br &sol;>&NewLine;He added&colon; &&num;8220&semi;Whether September counts as the autumn&comma; Draghi was less willing to comment on&period;<&sol;p>&NewLine;<p>&&num;8220&semi;It wasn&&num;8217&semi;t much but the market is super-sensitive to anything from Draghi at the moment&period;&&num;8221&semi;<br &sol;>&NewLine;The drop in the pound sent the FTSE 100 higher by 0&period;77&percnt; or 59&period;96 points to 7&comma;487&period;87&period; London&&num;8217&semi;s blue chip index easily outperformed its European counterparts&comma; with the French Cac 40 ending the day down 0&period;3&percnt; while the German Dax fell flat&period;<&sol;p>&NewLine;<p>In oil markets&comma; Brent crude prices were flat around 49&period;58 US dollars per barrel&comma; having retreated from near-six week highs that were spurred by data showing a bigger than expected drop in US energy inventories a day earlier&period; In UK stocks&comma; Unilever shares rose 75p to 4&comma;389p after the consumer goods giant said pre-tax profits climbed 27&percnt; to 4&period;6 billion euro &lpar;£4&period;1 billion&rpar; for the first half of 2017&comma; as efforts to boost profitability gathered pace despite volatile market conditions&period;<&sol;p>&NewLine;<p>EasyJet tumbled 84p to 1&comma;334p&period; While the budget airline upgraded its annual forecast following a 16&percnt; rise in third quarter sales&comma; its full-year profits are still expected to fall below last year&&num;8217&semi;s £495 million&comma; when the firm was stung by the plunging pound&period; Sports Direct shares surged 34&period;4p to 335&period;1p despite reporting a 59&percnt; drop in annual profits linked to the pound&&num;8217&semi;s collapse&comma; as investors put faith in its new store format and said current year earnings are expected to grow by up to 15&percnt;&period;<&sol;p>&NewLine;<p>Premier Foods jumped 1&period;25p to 40p despite reporting a 3&period;1&percnt; drop in first quarter revenue&comma; after a combination of warm weather and lacklustre dessert sales dragged on its performance&period; Mothercare shares slumped 2p to 101p after its first quarter results showed a 8&period;3&percnt; plunge in international sales&comma; once the effects of the Brexit-hit pound were stripped out&period;<&sol;p>&NewLine;<p>Moneysupermarket fell 9p to 350&period;4p as the company warned profits would come in at the lower end of expectations following a slowdown in energy switching&period; The biggest risers on the FTSE 100 were Ashtead Group up 51p to 1&comma;710p&comma; Provident Financial up 71p to 2&comma;390p&comma; Next up 103p to 3&comma;783p&comma; and British American Tobacco up 137p at 5&comma;425p&period;<&sol;p>&NewLine;<p>The biggest fallers on the FTSE 100 were EasyJet down 84p at 1&comma;334p&comma; International Consolidated Airlines Group down 24p at 595p&comma; Anglo American down 32&period;5p at 1&comma;100&period;5p&comma; and Shire down 82&period;5p at 4&comma;080&period;5p&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68cd349cbad45">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; false &equals;&equals;&equals; &lpar; window&period;isWatlV1 &quest;&quest; false &rpar; 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