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FTSE 100 Drifts Lower Ahead Of UK Election

U.K. stocks edged lower on Monday as investors awaited key developments this week, including the Federal Reserve's latest interest rate decision, new ECB boss Christine Lagarde's first policy meeting and the U.K. general election.

The benchmark FTSE 100 was down 9 points, or 0.12 percent, at 7,230 after surging 1.4 percent on Friday.

Britain's biggest retailer Tesco jumped nearly 5 percent on news it is considering the sale of its stores in Thailand and Malaysia.

Tullow Oil shares slumped as much as 60 percent. The oil and gas explorer downgraded its production guidance for 2020, suspended its dividend and announced that chief executive Paul McDade and exploration director Angus McCoss had both stood down.

Pharma services company hVIVO soared 7.5 percent after announcing it has
reached an agreement on the terms of a recommended offer to be made by Open Orphan Plc for the entire share capital of hVIVO.

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