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London stocks slide as BoE sees slower recovery; Glencore slumps

Published 06/08/2020, 08:12
Updated 06/08/2020, 08:18
© Reuters.
UK100
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ITV
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FTMC
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GLEN
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* FTSE 100 down 1.2%, FTSE 250 off 0.7%

Aug 6 (Reuters) - London-listed shares dove on Thursday as
the Bank of England forecast a slower-than-expected rebound from
the COVID-19 pandemic, while Glencore tumbled after scrapping
its dividend to pay down debt.
The miner GLEN.L fell 4.6% as it also booked a $3.2
billion impairment charge, driving the FTSE 100 .FTSE down
1.2%. ITV ITV.L , Britain's biggest free-to-air commercial
broadcaster, was also among the biggest decliners on the FTSE
100 after it posted a 50% drop in first-half adjusted earnings.
The mid-cap FTSE 250 .FTMC was down 0.7%, with industrial,
real estate and financial stocks among the biggest drags.
The Bank of England said on Thursday the British economy
would not recover its end-2019 size until the end of next year,
later than its earlier estimate of a recovery by the second half
of 2021. In its policy decision, the central bank made no
changes to its key interest rate or its bond-buying programme.

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