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CORRECTED-Shell, Fed disappointment hit FTSE 100; LSE outshines

Published 08/01/2019, 04:26 PM
CORRECTED-Shell, Fed disappointment hit FTSE 100; LSE outshines
UK100
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BARC
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SHEL
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LSEG
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STAN
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FTMC
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TRI
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CTEC
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(Corrects paragraph 2 to remove extraneous "pressured by")
* FTSE 100 down 0.5%, FTSE 250 down 0.3%
* Shell drops on poor results
* StanChart rises after profit beat
* Barclays gains on dividend hike
* LSE up on Refinitiv buy

Aug 1 (Reuters) - London's FTSE 100 was knocked back on
Thursday by a steep drop in Shell and scotched hopes of more
U.S. interest rate cuts, even as LSE jumped after a $27 billion
deal to buy Refinitiv and StanChart rose after profit beat.
The FTSE 100 index .FTSE dipped 0.5% by 0707 GMT. The
midcap index .FTMC was down 0.3%, with a 9.4% results-driven
rise in medical products maker Convatec CTEC.L keeping a lid
on losses.
Shell RDSa.L , the most valued company on the FTSE 100,
fell 4.3%, was set for its worst day since December, as its
second-quarter profit slumped to a 30-month low due to lower oil
and natural gas prices and refining margins. On the flip side, Standard Chartered STAN.L jumped 3.2% as
investors focussed on strong results despite a warning on risks
from the U.S.-China trade war. Barclays BARC.L added 2% after
hiking its dividend. London Stock Exchange LSE.L climbed 4% after agreeing to
buy financial data provider Refinitiv in a deal that will
transform the British company into a market data and analytics
giant. Thomson Reuters TRI.TO , the parent company of Reuters,
currently holds a 45% stake in Refinitiv.

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