Retailer Next Plc drives FTSE lower; Fed meeting eyed

Retailer Next Plc drives FTSE lower; Fed meeting eyed
A financial trader works at their desk at CMC Markets in the City of London, Britain, April 11, 2019. REUTERS/Peter Nicholls/Files -
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(Reuters) – UK stocks inched lower on Wednesday led by a fall in the shares of retailer Next following its results, while Prime Minister Boris Johnson won approval from parliament on Tuesday for an early ballot aimed at breaking the Brexit deadlock.

Both the British benchmark indexes <.FTSE> <.FTMC> dipped 0.1% by 0805 GMT, with markets also keenly awaiting direction from the U.S. Federal Reserve on further monetary policy action.

In news-related moves, Next <NXT.L> dropped 3% to the bottom of FTSE 100 after the company said sales in September were hit by unusually warm weather, while small-cap passport maker De La Rue <DLAR.L> plunged nearly 30% to its lowest in two decades after another profit warning.

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

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