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London stocks retreat on mixed earnings, Sino-U.S. tensions

Published 24/07/2020, 08:21
© Reuters.
UK100
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CNA
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PSON
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FTMC
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(For a live blog on European stocks, type LIVE/ in an Eikon
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* FTSE 100 down 1.4%, FTSE 250 off 0.7%

July 24 (Reuters) - London-listed shares fell on Friday as a
batch of mixed quarterly earnings updates and souring U.S.-China
relations dulled optimism about a post-pandemic economic
recovery, with education firm Pearson sliding after posting a
first-half loss.
Pearson PSON.L tumbled 2.7% to the bottom of the FTSE 100
even as is said it had seen a rebound in demand since June.
The blue-chip FTSE 100 .FTSE was down 1.4% and on course
for its biggest weekly decline in six. Fewer than 10 stocks on
the index were trading higher.
The mid-cap FTSE 250 .FTMC shed 0.7%, with cyclical stocks
including consumer discretionary, financial and industrial firms
being among the biggest drags.
British Gas owner Centrica Plc CNA.L jumped 26.4% to its
highest in more than four months after it said it would sell its
North American business Direct Energy to NRG Energy for $3.63
billion in cash.

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