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Rebound in banks, trade sentiment boosts FTSE 100; Metro Bank plummets

Published 09/24/2019, 03:27 PM
Updated 09/24/2019, 03:30 PM
Rebound in banks, trade sentiment boosts FTSE 100; Metro Bank plummets
UK100
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CBRO
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FTMC
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SAA
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MTRO
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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 down 0.3%
* Blue-chip financial stocks bounce back
* U.S.-China trade sentiment also supports market mood
* Metro Bank falls after ditching bond issue
* Close Brothers slips after results, CEO departure

Sept 24 (Reuters) - London's FTSE 100 moved higher on
Tuesday, bolstered by financial stocks that rebounded from a
sharp sell-off in the previous session and good news that
U.S.-China trade talks would resume next month, while small-cap
Metro Bank sank after scrapping a bond issuance.
The main index .FTSE added 0.2% by 0706 GMT. However, the
more domestically-focussed FTSE 250 index .FTMC shed 0.3%,
ahead of a Supreme Court ruling on whether Prime Minister Boris
Johnson's decision to suspend parliament was unlawful.
Mid-caps were dragged lower by a 4.7% drop in merchant bank
Close Brothers CBRO.L after its annual profit fell and it said
Chief Executive Officer Preben Prebensen would leave.
Among smaller stocks, Metro Bank MTRO.L sank 12% as the
troubled lender ditched a 250-million pound bond issue on Monday
after failing to attract investors, while ad agency M&C Saatchi
SAA.L slid 8% after warning annual profit would fall 5%-10%
below estimates.

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