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FTSE 100 drops ahead of US jobs report | |
(about 3 hours later) | |
(Noon): The FTSE 100 gave up nearly all the gains it had achieved on Thursday, with investors remaining cautious ahead of key US jobs figures. | |
The data will give the latest clues on the health of the US economy and could influence the timing of rate rises. | |
After climbing 1.8% in the previous session, the FTSE 100 index was down 108.78 points, or 1.75%, at 6,085.42. | |
Next shares dropped 3.6% after Exane BNP Paribas cut its rating on the firm to "underperform" from "neutral". | |
Retail shares also came under pressure after a downbeat survey from accountancy and business advisory firm BDO. | |
The study found High Street sales were down 4.3% in August from a year earlier. | |
In the FTSE 250, shares in online betting company Bwin.party gave up early gains to stand 0.2% lower. Bwin has agreed to a £1.1bn takeover offer from GVC, having previously accepted a rival offer from 888 Holdings. Shares in 888 were up 4%. | |
On the currency markets, the pound fell 0.2% against the dollar to $1.5227, and dropped 0.3% against the euro to €1.3676. |