Nov 23, 2017

FTSE 100 slips as Centrica shares plunge

Centrica shares fell to a 14 year low 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. Centrica's shares plunged about 15% to 138.3p, bringing the fall since January to just over 40%. They were by far the biggest faller on the FTSE 100, which closed almost flat at 7,417 points. 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.

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