(For a live blog on European stocks, type LIVE/ in an Eikon news window)
* FTSE 100 down 0.1 pct
* FTSE 250 up 0.3 pct
* Brexit respite boosts housebuilders
* Exporter stocks dip as pound gains
* Stagecoach surges after upbeat forecast
April 3 (Reuters) - Britain's top share index broke a four-day winning streak on Wednesday as strength in banks and homebuilders on the prospect of another Brexit extension was outweighed by weakness in exporter stocks after the pound found its ground.
Prime Minister Theresa May, after seven hours of cabinet meetings on Tuesday, said she would seek another Brexit delay beyond April 12 to try and agree a European Union divorce deal with the opposition Labour leader. the default remained that Britain would leave the bloc without a deal, her move offered the prospect of keeping the UK in a much closer economic relationship with the EU after Brexit.
But exporters felt the brunt of a stronger sterling. British American Tobacco (JO: SNHJ ) BATS.L , spirits giant Diageo DGE.L , GlaxoSmithKline GSK.L and Unilever ULVR.L were the biggest drags on the main bourse.
Burberry BRBY.L was the biggest blue-chip faller with a 3 percent drop as JP Morgan analysts slashed annual core profit estimates for the luxury goods brand on Brexit-related sterling volatility. company Stagecoach SGC.L surged 11 percent, topping the midcaps, after it hiked its full-year adjusted profit target on what it called "strong trading and positive progress" in the UK rail business. small-cap index saw some big fallers with Superdry SDRY.L slumping another 9 percent on news that its co-founder and former boss Julian Dunkerton was appointed interim CEO after winning the backing of shareholders to join the board by a slim margin.
CMC Markets CMCX.L slid 7.4 percent as it forecast a plunge in net operating income for fiscal 2019 as new rules curbed client trading activity and announced the departure of its CFO.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.