BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks rose on Wednesday as the pound fell sharply on news the government is looking to suspend parliament from around mid-September.
The BBC reported that the Queen will be asked to suspend the U.K.'s Parliament days after lawmakers return from a summer break on Sept. 3.
Under the plan by Prime Minister Boris Johnson's government, all business would be suspended until a Queen's speech on Oct. 14 kicks off a new parliamentary session.
The pound fell nearly 1.1 percent against a basket of global currencies, marking its worst performance since late July.
The benchmark FTSE 100 was up 27 points, or 0.38 percent, at 7,116 after closing 0.1 percent lower the previous day.
BP Plc shares jumped 2.2 percent after the company agreed to sell its entire business in Alaska to a privately held oil and natural gas exploration and production company Hilcorp Alaska for $5.6 billion.
British American Tobacco reversed early losses to turn higher, while Imperial Brands cut some losses as Philip Morris International confirmed it's in talks with Altria Group regarding an all-stock merger of equals.
Luxury clothing retail company Ted Baker edged up slightly after it agreed with Sojitz Infinity to create a retail license deal for Japan.
Copyright RTT News/dpa-AFX
© 2019 AFX News
