BREAKING NEWS

British mid-caps trip as Brexit mood sours, Grafton slumps

British mid-caps trip as Brexit mood sours, Grafton slumps
A worker on the IG Group's trading floor looks away from his screens in the City of London, October 4, 2011. REUTERS/Olivia Harris/Files -
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Olivia Harris(Reuters)
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(Reuters) – Britain’s FTSE 250 slid on Thursday after Northern Ireland’s Democratic Unionist Party (DUP) cast fresh doubts over the prospects of a Brexit deal, while shares of Grafton and rival building materials distributors were hammered after a profit warning.

The FTSE 250 <.FTMC>, up more than 3% since last week amid a flurry of contrasting Brexit headlines, shed 0.5% after the DUP, which supports Boris Johnson’s minority government, said it could not back the Brexit deal as it currently stands.

Shares of Grafton <GFTU_u.L> slid 10% after it warned on its annual profit, while peers Travis Perkins <TPK.L>, Howden Joinery <HWDN.L> and SIG <SHI.L> gave up between 2.3% and 6%.

The FTSE 100 <.FTSE> edged 0.1% higher by 0714 GMT, helped by gains in Unilever <ULVR.L> after its quarterly update and as other exporter firms rose due to a weaker pound.

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

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