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FTSE 100 on track for fourth straight day of losses

FTSE 100 on track for fourth straight day of losses
FILE PHOTO: Traders work on the trading floor of Barclays Bank at Canary Wharf in London, Britain December 7, 2018. REUTERS/Simon Dawson -
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SIMON DAWSON(Reuters)
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(Reuters) – London’s main bourse is on course for its fourth straight day of losses on Wednesday, the longest losing streak since January, as consumer stocks and pharmaceuticals pressure the index, while small-cap retailer Superdry slumped after it reported a loss.

The weakness in UK markets have been triggered by waning hopes of more accommodative policies from the U.S. Federal Reserve. Fed Chairman Jerome Powell is expected to speak later today.

The FTSE 100, an index of blue-chip stocks <.FTSE>, slipped 0.1% and the FTSE 250 midcap index <.FTMC> dropped 0.2% by 0708 GMT.

Fashion group Superdry <SDRY.L> fell 10% to a more than seven-month low after reporting a loss compared to a year-earlier profit. Recruitment firm PageGroup <PAGE.L> fell 10.5% among midcaps after warning on earnings amid Brexit uncertainties.

PageGroup’s rivals Hays <HAYS.L> and Robert Walters <RWA.L> were also down 5.7% and 1.7%, respectively.

(Reporting by Muvija M and Shashwat Awasthi in Bengaluru)

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