Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  News  >  Indexes & Markets

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 

FTSE 100 drops ahead of Brexit talks, U.S. presidential debate

09/29/2020 | 12:21pm EST
A broker reacts on the IG Index the trading floor

The FTSE 100 fell on Tuesday on worries about a stalling economic recovery and surging COVID-19 cases, with pub owners sliding on the prospect of further curbs as another round of Brexit negotiations began.

European Union negotiators signalled they were willing to begin work on a joint legal text of a trade deal with Britain, the Times reported, as the three days of talks got under way.

The global mood was also subdued ahead of Tuesday's U.S. presidential debate between incumbent Donald Trump and Democrat challenger Joe Biden.

The blue-chip FTSE 100 index dropped 0.5%. The mid-cap index slipped 1.1% and was on track to record its worst month since March.

Banks <.FTNMX8350> and oil stocks <.FTNMX0530> were among the biggest decliners, while defensive play such as utilities and industrials rose.

A raft of stimulus measures had led a FTSE 100 rally from March lows, but the index was on course for its second monthly decline in five as fresh coronavirus-linked restrictions and Brexit uncertainties dulled sentiment.

Among bright spots, plumbing parts distributor Ferguson rose 6% after it restored its dividend as cost-reduction measures helped it report a 4.1% rise in annual profit.

Retailer B&M European Value Retail rose as brokerages cheered a strong first half. "The latest update ...confirms it is well-positioned for tougher economic times," said Russ Mould, investment director at AJ Bell, also tipping it as a prime merger candidate for British supermarket retailer Asda.

Baker Greggs lost 8% after saying it expects trading to remain below normal for the foreseeable future due to the pandemic.

Pub owners JD Wetherspoon, Marston's, Mitchells & Butlers and Restaurant Group all slumped more than 5% after a junior minister said Britain's nightclubs may have to stay shut until a COVID-19 vaccine is developed.

(Reporting by Shashank Nayar in Bengaluru; editing by Uttaresh.V and John Stonestreet)

By Shashank Nayar and Susan Mathew

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AJ BELL PLC 0.12% 406 Delayed Quote.-5.59%
B&M EUROPEAN VALUE RETAIL S.A. -0.23% 467 Delayed Quote.14.26%
EURO / BRITISH POUND (EUR/GBP) 0.07% 0.89116 Delayed Quote.5.09%
FERGUSON PLC 0.85% 8324 Delayed Quote.20.55%
GREGGS PLC -0.92% 1829 Delayed Quote.-19.71%
J D WETHERSPOON PLC 0.62% 1144 Delayed Quote.-31.63%
LONDON BRENT OIL 0.79% 48.26 Delayed Quote.-30.61%
MARSTON'S PLC -2.34% 67.2909 Delayed Quote.-45.75%
MITCHELLS & BUTLERS PLC -3.17% 223 Delayed Quote.-49.84%
MSCI UNITED KINGDOM (STRD, UHD) 2.05% 1007.138 Real-time Quote.-17.10%
THE RESTAURANT GROUP -1.85% 65.5629 Delayed Quote.-59.02%
WTI 1.17% 45.29 Delayed Quote.-29.68%
Latest news "Markets"
08:20aStock Futures Pause After Dow's 30000 Milestone
07:30aStock Futures Pause After Dow's 30000 Milestone
07:18aWALL STREET STOCK EXCHANGE : S&P, Dow futures muted ahead of weekly jobless claims
07:13aStocks touch record high as investors cheer Biden transition, vaccines
07:08aWall Street Week Ahead: COVID-19 vaccine adoption rates are 'wildcard' for U.S. stock rally
05:43aStock Futures Pause After Dow's 30000 Milestone
05:36aSensex, Nifty slide as investors lock in gains after record high
04:56aEUROPE : European shares hover near nine-month highs on easing virus curbs, vaccine cheer
04:27aMelrose lifts FTSE 100 ahead of Sunak's spending plan announcement
02:37aFLIRTING WITH RECORD HIGHS : European stocks back to normal in 2021 - Reuters poll
Latest news "Markets"