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Sept. 29, 2020, 8:04 a.m. EDT

FTSE 100 slips a day after strong gains for U.K. blue chips

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By Steve Goldstein

U.K. blue-chip stocks slipped on Tuesday after the best one-day advance in three weeks.

After Monday’s 1.5% rise, the FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.07% slipped 0.4%. HSBC Holdings /zigman2/quotes/203901799/delayed UK:HSBA +1.76% shares fell 3%, a day after the U.K. bank surged on news China’s Ping An was boosting its stake.

Politics on both sides of the Atlantic was in the spotlight. The U.K. is holding talks this week with the European Union, as it pushes through an internal markets bill that would undo elements of last year’s withdrawal agreement.

House Democrats unveiled a $2.2 trillion stimulus package that is meant to be a bargaining tool, with House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin due to rekindle negotiations. The main event of the day will come after U.K. and U.S. markets close, which is the first debate between President Donald Trump and former Vice President Joe Biden.

Shares of Ferguson /zigman2/quotes/209006722/delayed UK:FERG +0.90% rose as the plumbing products supplier reported a 4% fall in pretax profits in the July 31-ending fiscal year, reinstated a dividend and said it would resume bolt-on acquisitions.

B&M European Value Retail /zigman2/quotes/208742159/delayed UK:BME +1.78% rose 5%, as it revised up its first-half earnings guidance for a second time, after like-for-like revenue gains of 23%.

Greggs /zigman2/quotes/205743109/delayed UK:GRG -0.52% shares slumped 8%, as the bakery said like-for-like sales in the four weeks to Sept. 26 have averaged 76.1% of the 2019 level in company-managed shops. Greggs said it plans to cut jobs as its trading outlook “remains uncertain.”

/zigman2/quotes/210598409/delayed
UK : FTSE UK
6,367.58
+4.65 +0.07%
Volume: 1.42M
Nov. 27, 2020 4:59p
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/zigman2/quotes/203901799/delayed
UK : U.K.: London
404.85 p
+7.00 +1.76%
Volume: 80.11M
Nov. 27, 2020 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£81.03 billion
Rev. per Employee
£314,521
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/zigman2/quotes/209006722/delayed
UK : U.K.: London
8,324.00 p
+74.00 +0.90%
Volume: 858,246
Nov. 27, 2020 4:35p
P/E Ratio
24.78
Dividend Yield
1.87%
Market Cap
£18.43 billion
Rev. per Employee
£503,690
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/zigman2/quotes/208742159/delayed
UK : U.K.: London
475.00 p
+8.30 +1.78%
Volume: 4.66M
Nov. 27, 2020 4:35p
P/E Ratio
16.70
Dividend Yield
7.31%
Market Cap
£4.67 billion
Rev. per Employee
£111,797
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/zigman2/quotes/205743109/delayed
UK : U.K.: London
1,738.00 p
-9.00 -0.52%
Volume: 408,410
Nov. 27, 2020 4:35p
P/E Ratio
553.50
Dividend Yield
0.00%
Market Cap
£1.77 billion
Rev. per Employee
N/A
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