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Weak earnings hit FTSE 100, Crest warning drags homebuilders

Published 31/10/2019, 09:28
© Reuters.  Weak earnings hit FTSE 100, Crest warning drags homebuilders
UK100
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LLOY
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SHEL
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FTMC
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CRST
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(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

* FTSE 100 down 0.3%, FTSE 250 flat

* Shell dips following Q3 update

* Crest Nicholson falls after profit warning

Oct 31 (Reuters) - London's main stock index lagged its

European counterparts on Thursday as disappointing earnings

reports from heavyweights Shell and Lloyds took investor focus

away from the U.S. Federal Reserve's decision to cut interest

rates again.

The FTSE 100 .FTSE was down 0.4%, with its most valued

company, Shell RDSa.L , dropping 3.2% after reporting a plunge

in profits and flagging that uncertain economic conditions could

slow its $25 billion share buyback plan.

The market's midcap index .FTMC was flat by 0811 GMT.

Lloyds LLOY.L , another bluechip, fell 2.9% after missing

market expectations for third-quarter earnings, while a near 10%

drop in midcap-listed homebuilder Crest Nicholson CRST.L after

a profit warning dragged down its peers.

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