FTSE extends losses ahead of May speech, Europe lower too

Reuters

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LONDON, Jan 17 (Reuters) - European shares fell on Tuesday, weighed by miners and autos, as markets awaited details of Britain's Brexit position in a late morning speech by Prime Minister Theresa May. The pan-European STOXX .STOXX index was down 0.5 percent, and Britain's blue-chip FTSE .FTSE extended its losses, down 0.4 percent. Fears that Britain is heading for a "hard" Brexit were reinforced over the past week pushing the pound to some of the lowest levels against the U.S. dollar seen in more than three decades. Britain will not seek a Brexit deal that leaves it "half in, half out" of the European Union, British PM May will say on Tuesday, according to her office, in a speech setting out her 12 priorities for upcoming divorce talks with the bloc. urn:newsml:reuters.com:*:nL5N1F655Y British aero-engine maker Rolls-Royce was a top European gainer in the index after it settled a long-running bribery probe and said its 2016 profit would beat expectations. urn:newsml:reuters.com:*:nL5N1F71EK Shares in German fashion retailer Zalando slumped down 6.5 percent, the top European faller, after its sales growth disappointed expectations. urn:newsml:reuters.com:*:nL5N1F716E Swiss chocolate maker Lindt saw its shares gain 3.1 percent after it succeeded in growing sales in Europe, Japan and Brazil, facing headwinds of low consumer confidence. urn:newsml:reuters.com:*:nL5N1F70UA Basic resources stocks were the biggest sectoral fallers, down 1.1 percent, weighed by lower metals prices. Anglo American AAL.L , BHP Billiton BLT.L and Antofagasta ANTO.L were down 1.6 to 1.8 percent. Mediaset MS.MI was down 3.8 percent after a report, without citing sources, said a potential takeover offer for the Italian broadcaster by France's Vivendi would not be 'judicially acceptable' for Italian communications authority AGCOM. urn:newsml:reuters.com:*:nL5N1F71EN (Reporting by Helen Reid, Editing by Vikram Subhedar) ((Helen.Reid@thomsonreuters.com; +44 20 7542 7748;)) Keywords: EUROPE STOCKS/

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