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Banks drag FTSE 100 lower as U.S. election race gets tight

Published 11/04/2020, 04:26 PM
Updated 11/04/2020, 04:30 PM
© Reuters.
UK100
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MKS
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FTMC
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FTNMX301010
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FTNMX551030
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 down 0.2%, FTSE 250 adds 0.2%

Nov 4 (Reuters) - London's FTSE 100 slipped on Wednesday,
with banks, commodity sectors bearing the brunt of a selloff as
early results from the U.S. election showed a very tight race
between Republican President Donald Trump and his Democratic
challenger Joe Biden.
The blue-chip FTSE 100 index .FTSE was down 0.2%, while
the domestically focussed mid-cap FTSE 250 .FTMC was up 0.2%.
Banks .FTNMX8350 and mining .FTNMX1770 stocks fell
between 2.8% and 3.5% after leading a surge in UK stock markets
earlier this week on bets of a decisive victory that could pave
way for more economic stimulus.
Trump on Wednesday falsely claimed that he had won the
election with millions of votes still uncounted after Biden said
he was confident of winning a contest that will not be resolved
until a handful of states complete vote-counting over the next
hours or days. Among individual stocks, Marks & Spencer Group Plc MKS.L
rose 0.9% after the retailer posted a smaller-than expected
first-half loss as COVID-19 pandemic hammered its clothing
sales.

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