London stocks track declines in Asia; Ladbrokes owner slides

Credit: REUTERS/Suzanne Plunkett

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FTSE 100, FTSE 250 both down 0.4%

July 16 (Reuters) - The FTSE 100 slipped from three-week highs on Thursday as U.S.-China tensions and the surge in global coronavirus infections weighed on sentiment, while Ladbrokes owner GVC tumbled after it said its long-time chief executive officer would step down.

GVC Holdings GVC.L fell 5.8% to the bottom of the FTSE 100 after it said Kenny Alexander was retiring after 13 years at the helm during which he built the company into one of the world's biggest gambling businesses.

The blue-chip FTSE 100 .FTSE and the mid-cap FTSE 250 .FTMC were both down 0.4%, tracking declines across Europe and Asia a day after sentiment was lifted by hopes of a COVID-19 vaccine. MKTS/GLOB

Personal goods firms .FTNMX3760, miners .FTNMX1770 and homebuilders .FTNMX3720 were among the biggest decliners in early trading.

Recruiter Hays HAYS.L slipped 2.6% to the bottom of the FTSE 250 as it warned of lower annual profit amid a slump in fee income.

(Reporting by Shashank Nayar in Bengaluru; Editing by Subhranshu Sahu)

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