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FTSE pauses after 3-day rally as investors await trade moves

Published 06/11/2019, 09:27
Updated 06/11/2019, 09:36
© Reuters.  FTSE pauses after 3-day rally as investors await trade moves
UK100
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MKS
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INTUP
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FTMC
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MTC
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(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

* FTSE 100 down 0.1%, FTSE 250 flat

* Intu falls to bottom of small-cap index

* M&S gains after HY report

Nov 6 (Reuters) - London's FTSE 100 retreated on Wednesday

after rallying more than 1% over the past two sessions as

investors awaited new developments on the U.S.-China trade

dispute, while mall operator Intu dropped on prospects of a cash

call.

The FTSE 100 .FTSE , which had been holding at a near

one-month highs this week, inched down 0.1% at 0812 GMT.

While the FTSE 250 midcap index .FTMC was more or less

unchanged, Marks & Spencer MKS.L stood out with a 7% jump as

investors focussed on the retailer's like-for-like sales growth

in food business over a plunge in first-half earnings.

Intu Properties INTUP.L slid 11.4% after saying it may

need to raise additional cash and that letting activity slowed

in the third quarter as some customers delayed decisions due to

Brexit-driven uncertainty. It also forecast annual rental income

to fall 9%. Mothercare MTC.L shares shot up by 35% and were on course

for their best day in nearly two decades. The baby products

retailer shut all its UK stores and laid out plans to return the

rest of the company to profitability by fiscal 2021.

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