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UPDATE 2-FTSE 100 slips as oil prices fall on U.S. stimulus worries; Tesco ends lower

Wed, 07th Oct 2020 09:55

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)

* British house prices jump at their quickest pace since
June 2016

* Tesco reports higher sales, FY21 outlook optimistic

* Security firm G4S rejects Canadian rival's takeover offer
again

* FTSE 100 down 0.06%, FTSE 250 flat
(Updates to close)

By Shashank Nayar

Oct 7 (Reuters) - London's FTSE 100 closed nearly flat on
Wednesday, weighed down by a fall in energy stocks on lower oil
prices, with investors looking for clues on U.S. stimulus
measures after President Donald Trump called a halt to talks
with Congress on a comprehensive bill.

The blue-chip FTSE 100 index closed down 0.06%, with
energy and insurance stocks leading
declines. The mid-cap index ended flat.

The energy index was one of the biggest drags on the FTSE
100 as oil prices slid nearly 2.5% after U.S. President Donald
Trump on Tuesday called off talks with lawmakers on pandemic
aid, and after a larger-than-forecast rise in U.S. crude stocks.

"There are hopes that the stimulus plans could be revived in
the period between the election and January’s inauguration which
are probably helping investors keep the news in perspective for
now," said Russ Mould, investment director at AJ Bell.

Wall Street's main indexes jumped on Wednesday as investors
grew hopeful of at least a partial deal on more fiscal stimulus,
but top White House officials on Wednesday downplayed the
prospect of either a comprehensive deal or standalone measures.

Construction stocks provided support to the
blue-chip index after a report by mortgage lender Halifax noted
British house prices rose last month at the fastest annual pace
since June 2016.

Britain's trade minister Liz Truss said on Wednesday a deal
with the European Union over the pair's future trading
relationship is "do-able" as the end of a transition period
approaches.

"Investors are on an edge with continuing uncertainty on
Brexit, and have taken the view that they can't place long bets
in this environment," said TS Lombard strategist Andrea Cicione.

Tesco, Britain's biggest retailer by sales, pared
earlier gains and closed 0.7% lower after it reported a jump in
sales due to the COVID-19 pandemic and said it saw its FY21
operating profits being in line with the previous year.

British private security company G4S rose 0.2% after
it once again rejected smaller Canadian rival GardaWorld's offer
and dismissed claims made by the hostile bidders in a pitch to
shareholders as misleading.
(Reporting by Shashank Nayar in Bengaluru; Editing by
Uttaresh.V and Jan Harvey)

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3 Nov 2020 11:22

UK TOP NEWS SUMMARY: Trump, Biden Wrap Up Campaigns As US Polls Open

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3 Nov 2020 10:22

TOP NEWS: G4S Rejects Another Offer As Bidding War Kicks Off

TOP NEWS: G4S Rejects Another Offer As Bidding War Kicks Off

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3 Nov 2020 09:37

UPDATE 2-London's FTSE 100 logs best day in two months as banks surge

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* BoE expected to ramp up asset purchase programme* Crest Nicholson surges on upbeat profit outlook* Regus operator IWG jumps as it sees impr...

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3 Nov 2020 09:35

G4S rejects takeover offer from Allied Universal

(Sharecast News) - Security services firm G4S confirmed on Tuesday that it had rejected a takeover offer from US rival Allied Universal.

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29 Oct 2020 11:02

G4S Updates Targets, Advises Investors To Reject GardaWorld Offer

G4S Updates Targets, Advises Investors To Reject GardaWorld Offer

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29 Oct 2020 08:35

G4S further pleas with shareholders to reject 190p GardaWorld offer

(Sharecast News) - G4S issued a further plea to shareholders to reject the unsolicited offer for the company from privately-held Canadian firm GardaWorld on Thursday, reiterating that it believed the 190p-per-share offer "significantly undervalues" G4S, describing it as "nowhere near a full and fair price".

Read more
19 Oct 2020 09:08

Garda World Approaches G4S Investors Directly Amid Board Opposition

Garda World Approaches G4S Investors Directly Amid Board Opposition

Read more
19 Oct 2020 07:17

G4S again rejects Gardaworld £3bn bid

(Sharecast News) - Security firm G4S on Monday again rejected GardaWorld's £3bn offer as the Canadian company posted full details of its 190p-a-share bid.

Read more
18 Oct 2020 11:39

G4S urges shareholders to reject GardaWorld offer

LONDON, Oct 18 (Reuters) - British security company G4S on Sunday recommended its investors reject the hostile takeover offer sent to shareholders by Canadian rival GardaWorld the previous day.The offer document details a cash bid at 190 pence per...

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14 Oct 2020 09:32

G4S Reports "Resilient" Trading Helped By Cost Savings, New Contracts

G4S Reports "Resilient" Trading Helped By Cost Savings, New Contracts

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14 Oct 2020 08:17

G4S nine-month earnings rise amid tight cost control

(Sharecast News) - Security services firm G4S said on Wednesday that underlying earnings in the first nine months of 2020 remain ahead of last year as a decline in revenue was offset by cost control and reduced interest costs.

Read more
9 Oct 2020 17:05

LONDON MARKET CLOSE: Stocks End Higher On New UK Jobs Support Package

LONDON MARKET CLOSE: Stocks End Higher On New UK Jobs Support Package

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9 Oct 2020 14:15

G4S In Takeover Talks With Allied Universal Security Services

G4S In Takeover Talks With Allied Universal Security Services

Read more
9 Oct 2020 13:53

UPDATE 2-Second potential G4S suitor swoops in amid GardaWorld's hostile bid

(Updates shares, adds background, response from Allied Universal)By Yadarisa ShabongOct 9 (Reuters) - Private security firm G4S said on Friday that U.S. rival Allied Universal has expressed interest in making an offer for the British company, whic...

Read more

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