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Thursday, July 18, 2024  
11 Muharram 1446  

London stocks fall as major earnings roll in; Persimmon jumps

The blue-chip index (.FTSE) edged down 0.1%
The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS
The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS

Britain’s FTSE 100 slipped for a third straight day as losses in construction materials offset gains in energy stocks, while shares of Persimmon rose to the top of the index on upbeat forecast.

The blue-chip index (.FTSE) edged down 0.1%, while the mid-cap FTSE 250 (.FTMC) shed 0.2%, as of 0715 GMT.

Persimmon Plc (PSN.L) gained 3.4% after the house builder said it expects to build homes at the top end of its annual guidance range.

Construction sector (.FTNMX501010) lost 2.3%, dragged by a 2.8% fall in CRH as the building materials giant expects U.S. profit boost but says Europe remains challenging.

Oil and gas stocks (.FTNMX601010) however rose 0.7% as crude prices gained on reports of falling U.S. crude oil and fuel inventories.

GSK (GSK.L) added 0.7% after the drugmaker beat expectations for its first-quarter revenue and profit, helped by sales of its blockbuster shingles vaccine Shingrix.

Standard Chartered PLC (StanChart) (STAN.L) edged up 0.3% after the lender’s first-quarter pretax profit jumped 21%, beating expectations.

Reckitt Benckiser (RKT.L) lost 1.1% on naming company insider Kris Licht as its new CEO.

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