(For a live blog on European stocks, type LIVE/ in an Eikon
* UK retailers cut jobs by most since 2009 - CBI
* Tech firm Aveva jumps on signing $5 bln takeover deal
* AstraZeneca rises on launching COVID-19 treatment trial
* FTSE 100 down 1.1%, FTSE 250 down 0.6%
Aug 25 (Reuters) - The export-laden FTSE 100 index closed
lower on Tuesday, weighed down by miners and a stronger pound,
while an unexpected drop in retail sales kept risk sentiment at
The blue-chip London index fell 1.1% and the mid-cap
FTSE 250 dropped 0.6%, abandoning gains made on optimism
from a pledge by Washington and Beijing to stand by their
Phase-1 trade pact.
Oil & gas companies and miners
were among the top decliners by the closing bell.
British retailers have cut the most jobs since the depths of
the financial crisis and expect the pace of losses to
accelerate, the Confederation of British Industry said.
Sterling gained despite the monthly retail sales balance
unexpectedly falling to -6 in August from July's 15-month high
The FTSE 100 is still on course for its best month since
April 2018 even as concerns linger about a choppy economic
recovery after a record contraction in the second quarter.
Investors are awaiting U.S. Federal Reserve Chair Jerome
Powell's address at the Kansas City Fed's annual conference on
Thursday for any hints as to the central bank's efforts to
revamp its approach to monetary policy.
"The fact the strong start to the trading session couldn't
be sustained points to an absence of conviction on traders'
part. It feels like many market participants are sitting on
their hands ahead of the Jackson Hole Symposium," said David
Madden, market analyst at CMC Markets.
AstraZeneca Plc rose 0.1% after launching a trial
for an antibody-based treatment for COVID-19.
Aveva Group rose 7.3% as it said it would buy
OSIsoft, a privately held maker of industrial software used to
manage plants and factories, for an enterprise value of $5
Retailer DFS Furniture Plc jumped 10.7% after
saying its performance over the last six weeks was significantly
above its initial expectations.
(Reporting by Sagarika Jaisinghani and Shreyashi Sanyal in
Bengaluru; Editing by Subhranshu Sahu and Bernadette Baum)