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"The improved GDP revision for the final quarter of 2016 confirms that it was business as usual for the UK economy, despite the UK's momentous vote to leave the EU. The lower pound appears to have acted as shock absorber and continues to aid industrial activity and exports. The UK is also in a fortunate position of capitalising on any pick up in global growth given that 70% of its market is international.The weak pound has helped British corporations who get their earnings abroad. As Financial Times reports,
Why is the FTSE loving this?
Because many companies in the FTSE 100 and FTSE 250 get their earnings abroad.
The likes of HSBC, GlaxoSmithKline and Wolseley are all seeing nice boosts to their share prices. Even the mid-cap 250 index, which has a more diverse group of companies that better reflects the UK economy, is enjoying sterling's pain, since it is populated by commodities companies. Interest rates are low so the dividend yield from equities is more tempting than yields from other markets. Caution: this is one way of looking at the FTSE.
Another is to measure FTSE companies in dollar terms, and when you do that you see that the FTSE is down over the course of the year. Compared to US companies and other peers, UK companies are underperforming in the long term. Even so, the FTSE may be benefiting from the surprisingly good economic data since Brexit and the neutralisation, thus far, of fears about recession. There is also the prospect of a weaker pound firing M&A activity. "While we expect Brexit fears to bite at some stage, the strength of the FTSE 100 is reflective of the fact that Brexit hasn't had too much of an impact on the UK economy so far," says Kathleen Brooks at City Index.

"It's a bear in the room."Watson filed five bills Tuesday that aim to increase and encourage reporting and lessen rates of sexual violence, harassment and stalking on college campuses. But he's also the co-sponsor of a proposal that would require school employees — and even some students — to report assaults or else face criminal penalties.
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