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FTSE 100 Subdued As Pound Extends Gains

U.K. stocks were marginally lower in lackluster trade on Thursday as the pound continued to push higher on the back of Joe Biden's swearing-in as President of the United States.

The benchmark FTSE 100 was down 3 points at 6,737 after closing 0.4 percent higher the previous day.

Tate & Lyle, a specialty food ingredients manufacturer, gained 1.3 percent after announcing the appointment of Vivid Sehgal to the position of Chief Financial Officer.

IG Group Holdings declined 1.5 percent. The online trading company reported that its first half profit before tax increased 129 percent to 231.3 million pounds from 101.2 million pounds, prior year.

The Sage Group jumped 5 percent. In its trading update for the three months ended 31 December 2020, the software company said total Group revenue increased by 1.4 percent to 447 million pounds.

Close Brothers Group rallied 3.3 percent after delivering a strong performance in the five months ended December 31.

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