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Recession fears hit FTSE 100; GVC helps mid-caps rise

Recession fears hit FTSE 100; GVC helps mid-caps rise
FILE PHOTO: Signage is seen outside the entrance of the London Stock Exchange in London, Britain. Aug 23, 2018. REUTERS/Peter Nicholls -
Peter Nicholls(Reuters)
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(Reuters) – London’s FTSE 100 edged lower on Thursday as worries of an imminent recession remained after a steep dive in long-term U.S. and UK government bonds yields, while a surge in gambling firms after GVC hiked its profit view helped mid-caps outperform.

The FTSE 100 <.FTSE> shed 0.2%, after hitting a more than two-month low in the previous session as 10-year bond yields fell below two-year equivalents for the first time since the financial crisis. The FTSE 250 <.FTMC> added 0.5% by 0707 GMT.

Shares of GVC <GVC.L> gained 4%, while peer William Hill <WMH.L> rose 3%, after the Ladbrokes owner raised its annual core profit forecast after a better-than-expected performance in its UK retail business in the first half of the year.

(Reporting by Shashwat Awasthi in Bengaluru; Editing by Shounak Dasgupta)

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