UPDATE 2-Glencore probe, weak earnings mar FTSE 100; Ferrexpo sinks

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  • Stock Market News
UPDATE 2-Glencore probe, weak earnings mar FTSE 100; Ferrexpo sinks
Credit: © Reuters.

* FTSE 100, FTSE 250 down 0.1 pct

* Glencore falls after reporting U.S. CFTC probe

* Brexit uncertainty hits RBS profits

* Ferrexpo tanks after auditor quits

* Computacenter rallies on mid-caps (Adds news items, updates to closing prices)

By Shashwat Awasthi and Muvija M

April 26 (Reuters) - The FTSE 100 inched lower as Glencore shares fell on news of another U.S. investigation, oil majors tumbled and earnings reports knocked RBS and Just Eat , while Ferrexpo tanked after its auditor quit amid an accounting probe.

Both the FTSE 100 .FTSE and the FTSE 250 .FTMC ended 0.1 percent lower, although the blue-chips trimmed losses after data showed U.S. economic growth accelerated in the first quarter. company Glencore GLEN.L fell 3.3 percent after saying that the U.S. Commodity Futures Trading Commission was investigating possible "corrupt practices" that may have broke some rules. Bank of Scotland RBS.L skidded 4 percent, its biggest fall in nearly five months, as it reported lower first-quarter profit that was hurt by intensifying competition and Brexit uncertainty. majors Shell RDSa.L and BP BP.L weighed heavily on the bourse as U.S. rival Exxon Mobil (NYSE: XOM ) XOM.N slumped on the Wall Street after reporting a 49 percent plunge in quarterly profit due to weakness across its major businesses.

A fall in crude prices, with the market retreating from its strongest bull run in at least a year, also did not help oil shares. takeaway service Just Eat JE.L fell 4.6 percent after reporting slower growth in UK orders during the first quarter, which it blamed on warm weather in February and a later Easter this year.

"Weather has always been a factor for Just Eat, and we remain convinced that there are solutions to that, but they haven't yet been put into place," Peel Hunt analysts said.

Helping contain losses on the main index was the world's largest advertising company, WPP WPP.L , which enjoyed its biggest one-day rise in nearly a year with a 5.4 percent jump after reporting higher revenue and reiterating its annual targets. the FTSE 100 had dropped for the last three sessions, it still remains on course for its fourth straight month of gains.

The mid-cap index is on track to post monthly gains as well, despite the re-emergence of Brexit uncertainties.

Goldman Sachs (NYSE: GS ) said Brexit's effect on the British economy was intensifying as the process of leaving the European Union drags on. FXPO.L plummeted 28.4 percent on its worst day in 3-1/2 years after Deloitte abruptly quit as its auditor.

The stock drop came as the iron ore pellet producer said some funds of a charity it donates in Ukraine might have been "misappropriated". Hastings HSTG.L slumped 12.8 percent, its steepest drop in six months, after it forecast an annual loss ratio - the amount it spends on claims compared with income from premiums - towards the higher end of its target range. blue-chip peers Admiral Group ADML.L and Direct Line DLGD.L gave up 1 percent and 1.2 percent, respectively.

Computacenter CCC.L surged 18.3 percent on its best day in nearly a decade as the IT services company stuck to its annual targets after a "pleasing" first quarter. Glencore underperforms mining heavyweights



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