May 17, 2019 / 7:39 AM / 9 days ago

FTSE 100 drops as Just Eat rues Amazon backing rival, trade worries linger

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

* FTSE 100 down 0.3%, FTSE 250 down 0.1%

* Just Eat slips after Amazon backs rival

* easyJet rises after affirming FY targets

* Metro Bank surges after raising capital

May 17 (Reuters) - British shares eased on Friday as investors paused after a week dominated by uncertainty over global trade and Brexit, while Just Eat tumbled after Amazon backed food delivery firm Deliveroo in a new funding round.

The FTSE 100 was down 0.3% after three sessions of gains, while the FTSE 250 edged 0.1% lower by 0710 GMT.

Online takeaway service Just Eat skidded 8.5% to the bottom of the main index after rival Deliveroo said it had gained Amazon’s backing in a new $575 million funding round.

The FTSE 100’s decline on Friday came as markets took stock of a plethora of news this week on Sino-U.S. trade relations, which were strained further after a volley of tariffs and Washington’s sanctions on telecom giant Huawei.

Worries over the impact of Britain’s departure from the European Union have also resurfaced. Budget airline easyJet , which has seen significant headwinds as a result, warned of lower revenue in the second half of the year.

But its shares rose 4.3%, after falling in the previous session on Thomas Cook’s profit warning, as it stuck to its annual forecast.

Metro Bank surged 19%, on course for its best day ever, after raising 375 million pounds of capital. The gain erased some of the near 70% slump this year which came after it disclosed an accounting error which led to a regulatory probe and a cash call. (Reporting by Shashwat Awasthi and Muvija M in Bengaluru; Editing by Hugh Lawson)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below