FTSE Close: Shares end lower as blue-chip index extends losing streak

London shares close lower, extending losing streak to three sessions as few catalysts spur buying while Barclays agrees Tesco Bank deal.

Mark Rogers

Mark Rogers

London stocks closed in the red on Friday, with the FTSE 100 falling for a third straight session as sentiment remains fragile. The UK blue-chip index slid 0.3% to finish at 7,572.58. The domestically-focused midcap FTSE 250 index also lost ground, dipping 0.2% to 19,062.32 and the AIM All-Share lost 0.5%, closing at 747.41.

Among individual movers, Fresnillo was one of the worst FTSE 100 performers, with shares in the gold miner tumbling 3.4% as precious metal prices weakened.

Packaging company DS Smith and housebuilder Redrow outperformed, climbing 2.5% and 0.3% respectively, building on recent gains after becoming the subject of M&A interest.

Barclays agreed to acquire the retail banking operations of Tesco Bank for around £600 million. Tesco will retain other profitable parts of its financial services business such as insurance, ATMs, travel money and gift cards. HSBC shares declined 1.3%, weighing down the blue chips.

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On the AIM-listed market, drug developer Evgen Pharma saw its shares plunge 22%. The company said it has not received the expected payments from partner Stalicla. Evgen issued a dispute notice, though noted the missed payments do not change its cash runway forecasts.

FTSE All-Share Gainers

Cab Payments 9.8%, Watches Switz 5.75%, Vipera 5.43%, Invesco Sel. Uk 4.75%, Schroder Income Growth Fund 4.02%, Topps Tiles 3.98%, Ceres Power 3.75%, Middlefield Prf 3.53%, Avon Protection 3.47%, Pharos Energy 3.4%.

FTSE All-Share Fallers

Close Bros -8.59%, S & U -7.86%, James Fisher and Sons -7.22%, Superdry -5.19%, Metro Bank -4.95%, Kin and Carta -4.78%, Regional Reit -4.7%, Pollen Street -4.47%, Severfield -4.26%, Brown Advisory -4.04%.

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