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M&S hit by job cuts report as oil drags FTSE lower

Published 20/07/2020, 08:25
© Reuters.
UK100
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BP
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MKS
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SHEL
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* FTSE 100 down 0.8%, FTSE 250 off 0.4%

July 20 (Reuters) - The FTSE 100 dipped on Monday, with
energy stocks tracking a decline in oil prices on concerns about
the global spike in COVID-19 cases, while Marks and Spencer slid
after a report it was planning to cut hundreds of jobs.
The retailer MKS.L , one of Britain's best known high
street names, fell 2.1% as Sky News said it planned to announce
the cuts this week. The commodity-heavy blue-chip index .FTSE was down 0.8%,
with BP Plc BP.L and Royal Dutch Shell Plc RDSa.L among the
biggest drags. O/R
The mid-cap FTSE 250 .FTMC shed 0.4%, led by financials,
consumer discretionary and real estate stocks.
Stock markets in Europe also kicked off the week on a glum
note with EU leaders still negotiating the terms of a
coronavirus recovery fund after three days of haggling over the
plan. .EU

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