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FTSE 100 set to snap six-day losing streak, Thomas Cook plummets

Published 07/12/2019, 03:22 PM
Updated 07/12/2019, 03:30 PM
FTSE 100 set to snap six-day losing streak, Thomas Cook plummets
UK100
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BP
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SHEL
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TCGI
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FTMC
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FTNMX301010
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LOOK
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1992
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 up 0.2%, FTSE 250 rises 0.1%
* Thomas Cook slumps after talks of a 750 mln stg bailout
* Lookers drops after profit warning

July 12 (Reuters) - Gains in financial stocks and oil majors
drove London's main index higher in early trade on Friday, while
small-cap Thomas Cook tanked after a proposed 750 million-pound
bailout.
The FTSE 100 .FTSE edged 0.2% higher amid increasing bets
that the U.S. central bank will cut interest rates later this
month. The mid-cap FTSE 250 .FTMC added 0.1% by 0710 GMT.
An index of financials companies .FTNMX8350 rose after two
sessions of losses, while Shell RDSa.L and BP BP.L were also
among the biggest boosts to the index in early dealings.
Thomas Cook TCG.L , hit recently by fading demand for
packaged holidays and high debt, slumped more than 30% on a
proposed bailout which would hand control of its packaged-tour
business to largest shareholder Fosun Tourism 1992.HK .
Small-cap Lookers LOOK.L , whose shares have almost halved
in value this year as the car dealership chain battles weaker
car demand in Britain, sank 26% after it warned on annual
profit.

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