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Election tension drags UK-focussed stocks lower

Published 11/12/2019, 09:28
Updated 11/12/2019, 09:36
Election tension drags UK-focussed stocks lower
UK100
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BDEV
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TW
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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 up 0.5%, FTSE 250 down 0.1%

* JD Sports biggest faller on FTSE 100

* UK-exposed stocks inch lower on both indexes

* Dollar earners biggest boost to main bourse

Dec 11 (Reuters) - UK-listed firms with more exposure to

political risks edged lower on Wednesday as investors woke up to

a growing chance that the upcoming election may result in

another hung parliament, while retailer JD Sports slid 7% after

top investor cut stake.

The mid-cap bourse .FTMC , which makes half of its earnings

from Britain, was down 0.1% by 0807 GMT. The index has gained

about 3% and outperformed bluechips since lawmakers voted in

favour of an election to break the deadlock over Brexit.

However, some of those prospects dimmed after pollsters

YouGov predicted 28-seat Conservative margin of victory versus

68 just two weeks ago.

The exporter-heavy FTSE 100 .FTSE gained on the weakness

in sterling to add 0.5%, outshining its European counterpart.

Still, stocks considered most vulnerable to any shocks to

the British economy weakened across the board, with falls in

blue-chip housebuilders Barratt BDEV.L and Taylor Wimpey

TW.L , and real estate stocks weighing the most on mid-caps.

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