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FTSE 100 dips as Next, Diageo weigh, BoE statement awaited


FILE PHOTO: People walk past the entrance of the London Stock Exchange in London, Britain. Aug 23, 2018. REUTERS/Peter Nicholls/File Photo

(Reuters) – London’s FTSE 100 was led lower on Thursday by spirits-maker Diageo and clothing chain Next, while traders awaited the Bank of England’s policy decision after its U.S. counterpart lowered interest rates but was guarded on future cuts.

The blue-chip bourse .FTSE edged 0.2% lower by 0707 GMT – its fourth straight day in the red, while the more domestically-focused FTSE 250 index .FTMC dipped 0.1% ahead of BoE’s interest rate decision.

Next (NXT.L) skidded 5% after it flagged that the first few weeks of the Autumn season were disappointing and Diageo (DGE.L) slipped 1.4% after it said it was “not immune” to changes in global trade policies as it laid out targets for the year.

Midcap constituent IG Group (IGG.L) jumped 6% as it said client numbers grew thanks to favourable market conditions in August, while small cap Kier Group (KIE.L) lost 7% after the contractor posted an annual loss.

Reporting by Muvija M in Bengaluru; Editing by Angus MacSwan

Source: Reuters: Top News