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London stocks drop ahead of BoE meet after Fed disappoints

Published 17/09/2020, 08:19
© Reuters.

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 down 1.0%, FTSE 250 down 0.7%

Sept 17 (Reuters) - London-listed shares tracked declines in
Asian stock markets on Thursday as the lack of new stimulus
measures by the U.S. Federal Reserve left investors disappointed
ahead of a Bank of England policy meeting.
The blue-chip FTSE 100 .FTSE and the mid-cap FTSE 250
.FTMC were down 1.0% and 0.7%, respectively, with miners
.FTNMX1770 and automakers .FTNMX3350 leading the declines.
Tech-focussed investment firms were among the biggest drags
on the FTSE 250 following another sell-off in U.S. technology
stocks on Wednesday. .N
All eyes later in the day will be on a Bank of England
meeting, where the central bank is expected to signal yet more
stimulus as the economy heads for a jump in unemployment and a
possible Brexit shock. In company news, gambling software maker Playtech PTEC.L
crashed 6.7% after it posted a lower first-half profit on
Thursday, hit by store closures and sports events cancellations
due to coronavirus-led curbs. British clothing retailer Next NXT.L added 3.4% after it
raised its profit outlook for the second time in two months as
it reported strong recent trading.

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