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FTSE falls for 5th day on Trump trade rhetoric, firm pound

Credit: REUTERS/NEIL HALL

London's FTSE 100 fell for the fifth straight session on Wednesday, after U.S. President Donald Trump doused hopes of an imminent trade deal with China, while a stronger pound dragged shares of exporters.

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FTSE 100 down 0.2%, FTSE 250 flat

Trump says U.S.-China trade deal may come after Nov. 2020

Sterling gain weighs on exporters

M&C Saatchi tumbles after another profit alert

Dec 4 (Reuters) - London's FTSE 100 fell for the fifth straight session on Wednesday, after U.S. President Donald Trump doused hopes of an imminent trade deal with China, while a stronger pound dragged shares of exporters.

The main bourse .FTSE, which has shed nearly 4% in just over four sessions, was down 0.2% due to a drop in miners .FTNMX1770, while exporters such as British American Tobacco BATS.L were hurt by pound's GBP= strength. The mid-cap FTSE 250 .FTMC was flat by 0809 GMT.

Trump said on Tuesday that a trade agreement with Beijing might have to wait until after the U.S. presidential election in November 2020, leading to a sell off in equities and deepening FTSE's recent slide.

AIM-listed shares of M&C Saatchi SAA.L tanked 43% to their lowest in more than a decade, after the advertising agency forecast lower annual profit, its second warning in less than three months.

(Reporting by Shashwat Awasthi in Bengaluru; Editing by Rashmi Aich)

((Shashwat.Awasthi@thomsonreuters.com; within UK: +1 646 223 3403; outside UK: +91 80 61822606, +91 80 37962606;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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