Boohoo flags annual revenue decline
Burberry top decliner on FTSE 100
FTSE 100 up 0.3, FTSE 250 off 0.1

Oct 3 Reuters UK39;s exporterheavy FTSE 100 edged higher on Tuesday as a weaker pound boosted dollar earners, though shares of online fashion retailer Boohoo and food chain Greggs fell on disappointing earnings updates.

The FTSE 100 added 0.3 by 0825 GMT, recovering from opening losses as the sterling fell to a new 612month low against the dollar on concerns about the economic outlook and expectations that the Bank of England might be done with rate hikes.

Shares of international firms that draw a large part of their revenue in dollars, including HSBC, AstraZeneca and Unilever, rose in the range of 0.6 and 1.8.

Broadly, global stocks came under pressure as U.S. Treasury yields stayed elevated and the dollar surged on expectations of higher U.S interest rates for longer period. GLOBMKTS

As soon as we start to see some negative economic data news, the dollars gains can retrace quite quickly, but for now it does look like more upside in the dollar, said Giles Coghlan, chief market analyst at HYCM.

The more domestically focussed FTSE 250 dipped 0.1, Greggs slipping 2.8 even as the baker and food chain maintained its fullyear outlook.

Boohoo shares dropped 7.6 to an over eightyear low after it warned a slower than expected recovery in sales volumes could result in little or no topline improvement for the full year.

Burberry Group39;s shares lost 2.7 after UBS…