Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Markets

News : Markets
Latest NewsCompaniesMarketsForexCryptocurrenciesCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 

FTSE slips on BoE bets and Brexit fears; Fevertree slides

share with twitter share with LinkedIn share with facebook
share via e-mail
01/20/2020 | 11:59am EST
The London Stock Exchange Group offices are seen in the City of London, Britain

Recurring fears of a hard Brexit and bets that the Bank of England will cut interest rates hit London's FTSE 100 on Monday, while premium tonic water maker Fevertree endured its worst day ever.

The main index, which hit a near six-month high in the previous session, gave up 0.3%. BAT weighed the most, while Shell and BP weakened despite a jump in crude prices.

UK-exposed banks including Lloyds and RBS were lower, as expectations that the BoE will ease policy this month continue to rise.

But homebuilders Persimmon, Barratt and Berkeley advanced about 2% each. Lower interest rates make it easier for consumers to take out mortgages to buy houses.

The FTSE 250 was 0.2% lower, with Capita dropping 4.2% after UBS downgraded the stock. Separately, a media report https://www.telegraph.co.uk/business/2020/01/18/capita-targets-profit-growth-200m-non-core-sell-off on Saturday said the company was planning a 200-million-pound sale of a clutch of units.

Also weighing on sentiment were comments from UK finance minister Sajid Javid that Britain would not commit to sticking to European Union rules in post-Brexit trade talks.

Still, both benchmark indexes avoided any major shocks as overall trading volume remained thin, with U.S. markets closed for the Martin Luther King Jr. holiday.

"Traders in this part of the world are mostly sitting on the fence... Trading ranges have been low and there hasn't been much in terms of news flow in Europe to grab traders' attention," CMC Markets analyst David Madden said.

Though sharp moves were scant, Fevertree sank 27% on its worst day ever after warning that annual revenue growth would be below its expectations following subdued trading over Christmas.

"Falling sales in the UK will inevitably spark fears the gin boom has turned to bust," Hargreaves Lansdown analyst Nicholas Hyett said.

Intu Properties, which shed more than 70% in value last year amid a string of bankruptcies on Britain's High Street, ended 1% lower after saying it was targeting an equity raise.

Its shares had earlier tumbled as much as 10% to a record low, while those of peer Hammerson gave up 3.7%.

Defence company BAE Systems outperformed the blue-chips with a 3.7% gain after saying it would buy two units being offloaded due to the merger of U.S. rivals Raytheon and United Technologies.

(Reporting by Shashwat Awasthi in Bengaluru; Editing by Anil D'Silva and Andrew Heavens)

By Shashwat Awasthi

Stocks mentioned in the article
ChangeLast1st jan.
BAE SYSTEMS PLC 1.52% 666.6 Delayed Quote.16.22%
BARRATT DEVELOPMENTS PLC 0.39% 863 Delayed Quote.15.64%
BERKELEY GROUP HOLDINGS PLC 2.35% 5472 Delayed Quote.10.15%
BP PLC -2.47% 454.25 Delayed Quote.-1.15%
BRITISH AMERICAN TOBACCO PLC 0.13% 3343 Delayed Quote.3.47%
CAPITA PLC 0.66% 151.95 Delayed Quote.-8.10%
CMC MARKETS PLC 2.57% 168.308 Delayed Quote.11.60%
EURO / BRITISH POUND (EUR/GBP) 0.06% 0.83802 Delayed Quote.-0.95%
FEVERTREE DRINKS PLC -2.22% 1451.5 Delayed Quote.-28.95%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.0.00%
HAMMERSON PLC -1.33% 222.7 Delayed Quote.-26.89%
HARGREAVES LANSDOWN PLC -0.70% 1697.5 Delayed Quote.-11.63%
INTU PROPERTIES PLC -9.33% 14.068 Delayed Quote.-54.37%
LLOYDS BANKING GROUP -1.84% 55.4878 Delayed Quote.-9.52%
PERSIMMON 0.80% 3284 Delayed Quote.21.00%
RAYTHEON 0.35% 221.3383 Delayed Quote.1.24%
THE ROYAL BANK OF SCOTLAND GROUP PLC -1.35% 204.6 Delayed Quote.-13.57%
UBS GROUP -2.23% 12.72 Delayed Quote.6.54%
UNITED TECHNOLOGIES CORPORATION -0.19% 149.67 Delayed Quote.0.09%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news "Markets"
10:13aWALL STREET STOCK EXCHANGE : U.S. Stocks Drop on Coronavirus's Economic Impact
DJ
10:09aTSX knocked off record highs as oil slides
RE
08:15aWALL STREET STOCK EXCHANGE : S&P 500, Nasdaq Futures -- Technical Analysis
DJ
08:06aYen regains footing as coronavirus spread knocks stocks
RE
08:06aYen regains footing as coronavirus spread knocks stocks
RE
08:04aYen regains footing as coronavirus spread knocks stocks
RE
07:15aWALL STREET STOCK EXCHANGE : Stocks Clinch Records, E*Trade Finds a Buyer and Walmart Disappoints
DJ
05:27aHang Seng China Enterprises Index to remove PICC, CRRC Corp
RE
05:15aSOUTHEAST ASIA STOCKS : Most fall as new coronavirus cases jump; Indonesia down 1%
RE
04:59aEUROPE : European shares fall as investors stay wary of virus impact
RE
Latest news "Markets"