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FTSE 100 slips as Centrica shares plunge | FTSE 100 slips as Centrica shares plunge |
(about 4 hours later) | |
Centrica shares suffered their worst one-day fall after the British Gas owner warned on profits and announced a sharp fall in customers. | |
The company said it had lost 823,000 domestic customer accounts since the end of June. | The company said it had lost 823,000 domestic customer accounts since the end of June. |
Centrica's shares plunged about 15%, bringing the fall since January to just over 40%. | |
It was by far the biggest faller on the FTSE 100, which closed almost flat at 7,417 points. | |
Morgan Stanley analysts said: "The question now is whether this weakness will persist in to 2018 and the longer-term potential impact on the dividend." | |
Housebuilders recovered some of the losses seen on Wednesday, when they had been hit by the Budget announcement that the government would reclaim land that was not developed quickly enough. | Housebuilders recovered some of the losses seen on Wednesday, when they had been hit by the Budget announcement that the government would reclaim land that was not developed quickly enough. |
Berkeley Group and Barratt Developments closed about 1.6% higher, with Taylor Wimpey adding 1.2%. | |
Outside the FTSE 100, All Bar One owner Mitchells & Butlers fell 6.6% after warning it may axe its next dividend payment because of lower profits and poor trading amid Brexit uncertainty. | |
Shares in Mothercare sank almost 17% after the baby goods retailer reported a half-year loss. | |
The company said its international markets remained "challenging", mainly due to weak trading in the Middle East, and also said its UK sales had softened in recent weeks. | The company said its international markets remained "challenging", mainly due to weak trading in the Middle East, and also said its UK sales had softened in recent weeks. |
On the currency markets, the pound fell 0.2% against the dollar to $1.3302, and was 0.4% down on the euro at €1.1290. |