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* Brexit talks to continue past Johnson's deadline
* Upbeat earnings prop up investor sentiment
* ASOS slips on cautious consumer demand outlook
* FTSE 100 falls 0.6%, FTSE 250 adds 0.3%
(Updates to close)
By Devik Jain
Oct 14 (Reuters) - The FTSE 100 slipped on Wednesday as
signs of progress in Brexit talks boosted sterling, putting
pressure on companies that are big exporters, while a clutch of
upbeat corporate earnings limited declines.
The export-heavy FTSE 100 ended 0.6% lower on
declines in pharmaceutical and bank
stocks.
The mid-cap FTSE 250, considered a barometer for
Brexit sentiment, added 0.3% after sources and documents said
the European Union and Britain were set to continue negotiations
on a Brexit trade deal beyond an Oct. 15 deadline set by Prime
Minister Boris Johnson.
"The fact that talks are going to continue suggests there is
appetite on both sides for a deal and removes a certain amount
of anxiety because there is no immediately pressing deadline to
worry about," Connor Campbell, financial analyst at Spreadex,
said.
After riding a global surge in equity markets on hopes of
more stimulus, the FTSE 100 has come under pressure this week on
growing domestic political frictions about new coronavirus
restrictions to contain a surge in infections.
Johnson on Wednesday resisted a national lockdown and said
he would stick to his localised approach, responding to
opposition leader Keir Starmer's demand for a temporary national
shutdown.
In company news, money manager Ashmore Group Plc
jumped 7.7% after the company said a rise in assets under
management during the first quarter more than offset net
outflows.
London-listed shares of Just Eat Takeaway.com NV
rose 6.4% as the food-ordering company reported a 46% jump in
its orders during the third quarter.
Britain's biggest homebuilder, Barratt Developments Plc
gained 1.7% after posting a near 17% jump in forward
sales for the past three months, helping the broader sectoral
index gain 0.3%.
But online fashion retailer ASOS Plc tumbled 10.3%
as it said it was cautious on the outlook for consumer demand.
(Reporting by Devik Jain in Bengaluru; Editing by Rashmi
Aich/Uttaresh.V/Jane Merriman)
