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FTSE 100 retreats after Fed plays down rate cut hopes

Published 06/26/2019, 03:29 PM
Updated 06/26/2019, 03:30 PM
FTSE 100 retreats after Fed plays down rate cut hopes
UK100
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FTMC
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BONB
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100, FTSE 250 down 0.1%
* Markets subdued as Fed tempers rate cut hopes
* Bonmarche tanks after accepting discounted offer

June 26 (Reuters) - London's main index slipped on Wednesday
as investors shied away from equities after the U.S. Federal
Reserve tapered expectations of interest rate cuts, while
Bonmarche tumbled to an all-time low after accepting a
discounted buyout offer.
The FTSE 100 .FTSE and the FTSE 250 .FTMC were both down
0.1% by 0711 GMT.
Losses on the main index were spread across the board, with
only oil stocks in the black in early dealings.
Women's fashion retailer Bonmarche BONB.L tanked 26% after
it backed a buyout offer from businessman Philip Day's firm
Spectre Holdings, now calling it "fair and reasonable" after the
company posted poor trading results in the first quarter.
The 11.445 pence per share offer was a 28% discount to the
stock's close on Tuesday.

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