M&S hit by job cuts report as oil drags FTSE lower
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* FTSE 100 down 0.8%, FTSE 250 off 0.4%
July 20 (Reuters) - The FTSE 100 dipped on Monday, with
energy stocks tracking a decline in oil prices on concerns about
the global spike in COVID-19 cases, while Marks and Spencer slid
after a report it was planning to cut hundreds of jobs.
The retailer <MKS.L>, one of Britain's best known high
street names, fell 2.1% as Sky News said it planned to announce
the cuts this week. [nL5N2EQ0LC]
The commodity-heavy blue-chip index <.FTSE> was down 0.8%,
with BP Plc <BP.L> and Royal Dutch Shell Plc <RDSa.L> among the
biggest drags. [O/R]
The mid-cap FTSE 250 <.FTMC> shed 0.4%, led by financials,
consumer discretionary and real estate stocks.
Stock markets in Europe also kicked off the week on a glum
note with EU leaders still negotiating the terms of a
coronavirus recovery fund after three days of haggling over the
plan. [.EU]
(Reporting by Sagarika Jaisinghani in Bengaluru; editing by
Patrick Graham)
((Sagarika.Jaisinghani@thomsonreuters.com; within U.S. +1 646
223 8780; outside U.S. +91 80 6182 2256;))
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Keywords: BRITAIN STOCKS/ (URGENT)
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