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Tuesday, 18 February 2020

Growth worries, Brexit woes hit FTSE 100; gambling stocks rally on M&A news

Reuters , Wednesday 2 Oct 2019
Views: 1208
Views: 1208

UK shares fell on Wednesday as investors were sceptical of Prime Minister Boris Johnson's Brexit plans, with more worries over global economic growth suppressing sentiment after dismal U.S. economic data.

The blue-chip index, which has greater exposure to international markets, was down 0.7% - its biggest one-day drop in six weeks, with all except three of its 100 components in negative territory by 0705 GMT.

However, the index was supported by Flutter Entertainment , formerly known as Paddy Power, which jumped 13% to top of the FTSE 100 after agreeing to an all-share deal with Poker Stars to create one of the world's biggest online betting and gambling companies.

The more-domestically focussed FTSE 250 fell 0.4%, but gambling firms William Hill and GVC rose 3% and 5%, respectively, limiting overall losses. 

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