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Miners, banks weigh on FTSE 100; Tullow Oil plunges
Published at 09/12/2019 at 08:28

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

* FTSE 100, FTSE 250 down 0.2%

* Oil companies, banks biggest drag on FTSE 100

* Tesco outshines the main index

* Tullow Oil plummets after co cancels dividend, CEO exits

Dec 9 (Reuters) - London's blue-chip stocks retreated on Monday as oil majors and Asia-exposed financials fell after disappointing exports data from China stoked growth worries, while midcaps were weighed down by a 50% slump in Tullow Oil.

The FTSE 100 was down 0.2% by 0808 GMT, with its exporter stocks also taking a hit from gains in sterling ahead of UK general election later this week.

The FTSE 250 also dipped 0.2%, with Tullow Oil

single-handedly accounting for all of the index's fall in early deals after the oil and gas explorer scrapped dividend and said its CEO was stepping down. The stock touched its lowest in more than 15 years.

Data showing China's exports in November shrank for the fourth consecutive month fanned worries over Sino-U.S. trade war's impact on the world's second-largest economy.

Other news related moves saw Tesco top the bluechip index with a 4.3% rise after the retailer started a review of its operations in Thailand and Malaysia.

(Reporting by Muvija M and Shashwat Awasthi in Bengaluru; Editing by Arun Koyyur)

((muvija.m@tr.com; within UK +44 20 7542 1810, outside UK +91 80 6749 3638;))

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