(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* Playtech gains on receiving takeover bid
* Abrdn jumps on talks to buy investment service firm
* BAE Systems slips despite sticking to earnings guidance
* FTSE 100 down 0.05%, FTSE 250 off 0.1%
(Updates to close)
By Shashank Nayar
Nov 8 (Reuters) - London's FTSE 100 edged lower on Monday as
gains in miners were offset by weakness in consumer-focussed and
travel stocks, while online gambling firm Playtech jumped after
a takeover bid from its second-biggest shareholder.
The blue-chip FTSE 100 index ended 0.05% lower,
with large dollar earners, including Unilever, British
American Tobacco and Diageo Plc down between
0.4% and 1%, hit by sterling's strong gains.
Limiting further losses were precious metals miners
and oil stocks on the back of
firmer commodity prices.
"The markets are now in a bit of a wait-and-see mode
following central bank decisions last week and as they look
ahead for more data to judge global economic recovery with the
overall bullishness for equity markets and a strong outlook for
global economic growth remaining intact," said David Madden, an
analyst at Equiti Capital.
The FTSE 100 has gained around 13% so far this year and has
recovered from its pandemic-driven losses supported by dovish
central bank policies, robust quarterly results and reopening
optimism.
However, the index still underperformed its European peers
, which have gained around 21% year-to-date, over
lingering concerns of rising input costs affecting the pace of
economic recovery.
The domestically focussed mid-cap index was down
0.1%, dragged by weakness in travel and leisure shares
.
Travel and leisure stocks fell 1.2%, with IAG
, Flutter Entertainment, Entain among
the top drags on FTSE 100.
Playtech Plc rose 2.4% after it received a takeover
offer from its second-biggest shareholder, Gopher Investments,
on Sunday.
British defence company BAE Systems slipped 0.5%,
even after it stuck to its guidance for earnings to grow by 3%
to 5% this year over 2020's result, and said demand for its
products and services remained high.
Abrdn Plc jumped 3.6% after Sky News reported on
Saturday the British asset manager was in advanced talks to buy
Interactive Investor, an online investment service, for more
than 1.5 billion pounds ($2.02 billion).
(Reporting by Shashank Nayar and Amal S in Bengaluru; Editing
by Subhranshu Sahu, Shailesh Kuber and Andrew Heavens)