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FTSE 100 drops as Just Eat rues Amazon backing rival, trade worries linger

Published 17/05/2019, 08:37
FTSE 100 drops as Just Eat rues Amazon backing rival, trade worries linger
UK100
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EZJ
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AMZN
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TCGI
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FTMC
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JE
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MTRO
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 down 0.3%, FTSE 250 down 0.1%
* Just Eat slips after Amazon backs rival
* easyJet rises after affirming FY targets
* Metro Bank surges after raising capital

May 17 (Reuters) - British shares eased on Friday as
investors paused after a week dominated by uncertainty over
global trade and Brexit, while Just Eat tumbled after Amazon
backed food delivery firm Deliveroo in a new funding round.
The FTSE 100 .FTSE was down 0.3% after three sessions of
gains, while the FTSE 250 .FTMC edged 0.1% lower by 0710 GMT.
Online takeaway service Just Eat JE.L skidded 8.5% to the
bottom of the main index after rival Deliveroo said it had
gained Amazon's AMZN.O backing in a new $575 million funding
round. The FTSE 100's decline on Friday came as markets took stock
of a plethora of news this week on Sino-U.S. trade relations,
which were strained further after a volley of tariffs and
Washington's sanctions on telecom giant Huawei.
Worries over the impact of Britain's departure from the
European Union have also resurfaced. Budget airline easyJet
EZJ.L , which has seen significant headwinds as a result,
warned of lower revenue in the second half of the year.
But its shares rose 4.3%, after falling in the previous
session on Thomas Cook's TCG.L profit warning, as it stuck to
its annual forecast. Metro Bank MTRO.L surged 19%, on course for its best day
ever, after raising 375 million pounds of capital. The gain
erased some of the near 70% slump this year which came after it
disclosed an accounting error which led to a regulatory probe
and a cash call.

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