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Ashtead leads FTSE lower, Ted Baker at 16-yr low
Published at 10/12/2019 at 08:30

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

* FTSE 100 down 0.3%, FTSE 250 flat

* Ted Baker stumbles to a 16-year low

* Ashtead biggest loser on the main index

Dec 10 (Reuters) - UK shares dipped on Tuesday after disappointing corporate updates from blue-chip industrial firm Ashtead and small-cap retailer Ted Baker, while investors stayed cautious ahead of the UK election and a deadline for fresh U.S. tariffs on China.

The main index was down 0.3% by 0815 GMT, led by a 5% fall in Ashtead as the company's warning on challenging conditions in the UK overshadowed profit rise.

The more domestically-focussed midcap index was largely unchanged ahead of UK's economic growth data scheduled to be released in about an hour.

Among smaller companies, Ted Baker tanked 36% to levels not seen since 2003 after it announced the departure of two of its top C-suite members, cancelled dividend payout and warned that trading during the Black Friday period was below expectations.

(Reporting by Muvija M 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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