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Banks lead Britain's FTSE 100 lower; IWG shines

Published 27/08/2019, 08:33
© Reuters.  Banks lead Britain's FTSE 100 lower; IWG shines
UK100
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HSBA
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PRU
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IWG
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FTMC
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(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

* FTSE 100 down 0.4%, FTSE 250 down 0.1%

* Banks drag down blue-chip index

* Midcap office space provider IWG at record high

Aug 27 (Reuters) - London's FTSE 100 dipped on Tuesday as

investors returning from a holiday-extended weekend overlooked

U.S. President Donald Trump's softer stance on its trade war

with China, while office space provider IWG scaled a life high

after reports of U.S. listing plans.

Losses on the main index were led by Asia-focused financial

stocks including HSBC HSBA.L and Prudential PRU.L after Hong

Kong's leader said violence in the city's anti-government

protests was becoming more serious.

The FTSE 100 .FTSE was 0.4% lower by 0710 GMT, starting

off yet another week on the back foot after suffering losses for

four consecutive weeks. The FTSE 250 midcap index .FTMC was

down 0.1%.

Despite U.S. President Donald Trump's prediction of a trade

deal with China after positive gestures by Beijing, traders are

still awaiting more details after tit-for-tat tariffs that went

north of $500 billion weighed down financial markets last week.

IWG IWG.L , however, jumped 5% to be among top gainers on

the midcap index after Sky News report over the weekend that the

company was planning to list its U.S. arm in New York for three

billion pounds.

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