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FTSE 100 down 0.2%, FTSE 250 down 0.3%
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AB Foods slumps on weak Primark sales outlook
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Haleon ( HLN ) rises after GS upgrade
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Vistry slips on H1 profit drop
(Updates after market close)
Sept 10 (Reuters) - Britain's FTSE 100 closed lower on
Wednesday, dragged down by consumer staples and industrials,
while investors assessed a slew of corporate earnings.
The blue-chip FTSE 100 closed down 0.2%, while the
domestically focused mid-cap index edged 0.3% lower.
In the market, consumer staples firms fell. Associated
British Foods ( ASBFF ) dropped 13.2%, logging its worst day since
2016, and fell to the bottom of the FTSE 100, after saying
underlying sales at its Primark clothing business will decline
in its second half.
Other consumer staples stocks such as Marks & Spencer ( MAKSF )
and Diageo ( DEO ) were down 3% and 1.3%, respectively.
Travel and leisure stocks declined 1.9%, with
British Airways owner IAG down 4.1%, Wizz Air ( WZZAF )
falling 2.6% and EasyJet ( EJTTF ) down 2.2%.
Some industrial stocks such as RELX ( RELX ) and Experian ( EXPGF )
also fell 4.2% and 1.1%, respectively.
The technology index lost 3.4%. Software firm
Sage, initially lifted by Oracle's results, was
down about 1%.
Medical equipment and services lost 1.6% with
Smith+Nephew and Convatec ( CNVVF ) falling 1.5% and 1.8%,
respectively.
Conversely, Heavyweight bank stocks advanced
1.1%, with HSBC ( HSBC ) up 1.8%.
Aerospace and defence company BAE Systems
added 2.2%, while Rolls-Royce rose 1.2%.
The life insurers index rose 1.7% led by
Prudential that gained 3.4% to top the FTSE 100.
In other moves, Vistry fell 5.7% after saying
economic uncertainties could continue to weigh on demand after
its first-half profit dropped by a third.
Anglo American advanced 1.6%, a day after gaining
9.1% on a $53 billion merger deal with Canada's Teck Resources ( TECK )
. Berenberg upgraded the miner's rating to "hold" from
"sell".
London Stock Exchange Group ( LDNXF ) was down about 1% after
falling 4.7% in the previous session, hit by competition
concerns. However, JPMorgan and other analysts remained
constructive.
Haleon's ( HLN ) rose 1.4% after Goldman Sachs upgraded the
consumer healthcare group's rating to "buy" from "neutral."
Serica Energy ( SQZZF ) dropped 14.5% after cutting its 2025
production outlook.