Banks weigh on FTSE 100; Morrisons drops as CD&R wins bid

  • 10/4/2021
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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 flat, FTSE 250 off 0.2% Oct 4(Reuters) - London’s FTSE 100 index was subdued on Monday as weakness in heavyweight banks offset gains in miners and oil stocks, while Morrisons dropped after private equity firm Clayton, Dubilier & Rice (CD&R) won a bid for the company. The blue-chip FTSE 100 index was flat at 0712 GMT, with HSBA, Prudential and Lloyds Group among the worst performers. The domestically focussed mid-cap index fell 0.2%, led by declines in consumer discretionary stocks. Britain’s fourth-largest supermarket Morrisons declined 3.7% after U.S. private equity firm Clayton, Dubilier & Rice (CD&R) won the auction for the company with a 7 billion pound ($9.5 billion) bid. Petrofac gained 9.2% after the oil services group said it was looking at refinancing options as it faces a possible $240 million fine from a London court. Online trading platform Plus500 rose 5.8% after raising its forecast for the second time in less than three months. (Reporting by Bansari Mayur Kamdar; Editing by Sriraj Kalluvila) Our Standards: The Thomson Reuters Trust Principles.

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