BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks were subdued on Thursday as investors booked some profits after a strong rally in the previous session. Underlying sentiment remained supported amid expectations of more fiscal stimulus for the U.S. economy.
The benchmark FTSE 100 dropped 16 points, or 0.2 percent, to 6,826 after climbing as much as 3.5 percent to hit a ten-month high on Wednesday.
J Sainsbury shares surged 4 percent after the grocer issued a third quarter trading statement for the 15 weeks to 2 January 2021. Third quarter like-for-like sales were up 8.6 percent (excl. fuel), with total retail sales up 6.8 percent (excl. fuel).
Mitchells & Butlers, a leading operator of managed restaurants and pubs, slumped 7.6 percent. The company said first quarter total sales were 67.1 percent below prior year during the 14 weeks ended 2 January 2021.
Entain, formerly known as GVC Holdings plc, rose 0.6 percent after it announced a recommended cash offer to buy Enlabs AB for 40 Swedish kronor per share.
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