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FTSE falls for 5th day on Trump trade rhetoric, firm pound

Published 12/04/2019, 04:32 PM
Updated 12/04/2019, 04:40 PM
FTSE falls for 5th day on Trump trade rhetoric, firm pound
GBP/USD
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 down 0.2%, FTSE 250 flat
* Trump says U.S.-China trade deal may come after Nov. 2020
* Sterling gain weighs on exporters
* M&C Saatchi tumbles after another profit alert

Dec 4 (Reuters) - London's FTSE 100 fell for the fifth
straight session on Wednesday, after U.S. President Donald Trump
doused hopes of an imminent trade deal with China, while a
stronger pound dragged shares of exporters.
The main bourse .FTSE , which has shed nearly 4% in just
over four sessions, was down 0.2% due to a drop in miners
.FTNMX1770 , while exporters such as British American Tobacco
BATS.L were hurt by pound's GBP= strength. The mid-cap FTSE
250 .FTMC was flat by 0809 GMT.
Trump said on Tuesday that a trade agreement with Beijing
might have to wait until after the U.S. presidential election in
November 2020, leading to a sell off in equities and deepening
FTSE's recent slide. AIM-listed shares of M&C Saatchi SAA.L tanked 43% to their
lowest in more than a decade, after the advertising agency
forecast lower annual profit, its second warning in less than
three months.

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