FTSE 100 inches up, LSE lags as Hong Kong bourse nixes bid

  • Reuters
  • Stock Market News
FTSE 100 inches up, LSE lags as Hong Kong bourse nixes bid
Credit: © Reuters.

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* FTSE 100, FTSE 250 up 0.1%

* LSE biggest blue-chip loser after HKEX cancels bid

* Recruiting firms slump after weak trading updates

* Sino-U.S. trade talks set for Thursday

Oct 8 (Reuters) - The FTSE 100 gained a bit on Tuesday, with investors hopeful ahead of U.S.-China trade talks later this week, which overshadowed a slump in LSE after the Hong Kong bourse dropped its takeover bid and recruiters fell after weak trading updates.

The FTSE 100 .FTSE edged 0.1% higher by 0707 GMT, with the midcaps .FTMC also rising by the same level.

Ahead of the trade negotiations, corporate news dominated market moves, with LSE LSE.L falling 6% after Hong Kong Exchanges and Clearing 0388.HK scrapped its unsolicited $39 billion offer as it failed to convince LSE management. Pagegroup PAGE.L and Robert Walters RWA.L plunged 15% and 10.4%, respectively, after their results revealed that a host of macroeconomic troubles including the U.S.-China trade war, Hong Kong protests and Brexit heavily hindered performance.

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