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London stocks drop ahead of BoE meet after Fed disappoints

17 Sep 2020 / 15:21 H.

    (For a live blog on European stocks, type LIVE/ in an Eikon news window)

    * FTSE 100 down 1.0%, FTSE 250 down 0.7%

    Sept 17 (Reuters) - London-listed shares tracked declines in Asian stock markets on Thursday as the lack of new stimulus measures by the U.S. Federal Reserve left investors disappointed ahead of a Bank of England policy meeting.

    The blue-chip FTSE 100 and the mid-cap FTSE 250 were down 1.0% and 0.7%, respectively, with miners and automakers leading the declines.

    Tech-focussed investment firms were among the biggest drags on the FTSE 250 following another sell-off in U.S. technology stocks on Wednesday.

    All eyes later in the day will be on a Bank of England meeting, where the central bank is expected to signal yet more stimulus as the economy heads for a jump in unemployment and a possible Brexit shock.

    In company news, gambling software maker Playtech crashed 6.7% after it posted a lower first-half profit on Thursday, hit by store closures and sports events cancellations due to coronavirus-led curbs.

    British clothing retailer Next added 3.4% after it raised its profit outlook for the second time in two months as it reported strong recent trading. (Reporting by Shashank Nayar in Bengaluru; editing by Uttaresh.V)

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