Sterling hit as PM Theresa May’s pre-election poll lead shrinks
Prospect of tough talks at a meeting of G7 leaders in Italy undermined risk appetite
London — Oil prices see-sawed on Friday after OPEC extended cuts in oil production but disappointed investors by not going further, while sterling slid after a poll showed the ruling Conservatives’ lead shrinking two weeks before an election.European stocks fell as turbulence in oil markets and the prospect of tough talks at a meeting of G7 leaders in Italy undermined risk appetite.Asian shares also fell, while US stock futures slipped.British stock markets, however, bucked the trend and hit record highs, with a selloff in sterling seen boding well for exporters.Britain’s pound tumbled 0.8% to a three-week low of $1.2834 and hit its lowest level in two months against Europe’s single currency.The first opinion poll since a suicide bombing killed 22 people indicated Britain’s opposition Labour Party had cut the Conservative Party’s lead to five points with less than a fortnight to go to the parliamentary election.Prime Minister Theresa May has said a big win would strengthen her hand ...
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