UPDATE 2-UK stocks end lower on Brexit concerns; The Hut Group soars on debut

Reuters

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    * E-commerce firm The Hut Group soars 25% on debut
    * Homebuilder Redrow falls on lower annual profits
    * Investors eye BoE meet on Thursday
    * Strong sterling weighs on FTSE 100 exporters

 (Adds details, updates to market close)
    By Shashank Nayar and Ambar Warrick
    Sept 16 (Reuters) - London-listed stocks slipped on
Wednesday as the fraught trade talks between Britain and the
European Union remained in focus, while shares in The Hut Group
 THG.L  surged after the biggest UK initial public offering
since 2013.
    The e-commerce firm, which helps sell retail brands
including Lookfantastic and skincare group ESPA, gained 25% in
its first day of trading.  urn:newsml:reuters.com:*:nFWN2GC0VA
    The blue-chip FTSE 100 fell 0.4%, with strength in the pound
 GBP=  weighing on its export-heavy constituents. The head of
the European Commission said the chances of reaching a trade
deal were fading by the day as the UK government pushes ahead
with moves that would breach their divorce treaty.  urn:newsml:reuters.com:*:nL8N2GD1AE
    The threat of a no-deal Brexit adds another layer of
uncertainty to the British economy, which is still reeling from
the shock of the coronavirus outbreak.
    "A new word has been invented - Le Brovid – to describe the
simultaneous fears of a no deal Brexit and the inability to get
the UK COVID-19 reproduction rate below one," strategists at
Jefferies wrote in a note. 
    The mid-cap FTSE 250  .FTMC  fell 0.1%, with losses
mitigated by continued gains in insurers after a court ruling
over COVID-19 payouts was seen as favourable.
    Investors are now looking to the Bank of England's policy
meeting on Thursday for signs of more stimulus, a day after the
U.S. Federal Reserve is expected to wrap up its meeting with a
renewed pledge to keep interest rates low for long.  urn:newsml:reuters.com:*:nL1N2GC11N
    British homebuilder Redrow  RDW.L  fell 1.8% after reporting
a plunge in annual profit, while promising to renew dividend
payouts next year as it halts investments in London and focuses
on its Heritage Collection homes.  urn:newsml:reuters.com:*:nL4N2GD1K4
    Construction firm Galliford Try Holdings  GFRD.L  rose 3.5%
after it said it expects to return to profitability in fiscal
2021 as site activity resumes and productivity nears normal
levels.  urn:newsml:reuters.com:*:nL4N2GD1K6

 (Reporting by Shashank Nayar in Bengaluru; Editing by
Uttaresh.V and Mark Potter)
 ((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6182 2256;))
 
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