* FTSE 100 down 1.8%, FTSE 250 down 1% * Trump comments on trade deal with China weighs on sentiment * U.S. tariffs on Brazil, Argentina 'effective immediately' * Pound rises as poll shows Conservative lead widened * Centamin jumps on merger proposal (Adds news items, graphic, updates share moves) By Muvija M and Shashwat Awasthi Dec 3 (Reuters) - London's FTSE 100 dropped to a two-month low on its fourth day in the red on Tuesday, as U.S. President Donald Trump's nonchalance about reaching a trade deal with China spooked traders. The blue-chip index
.FTSEslipped 1.8%, while the midcap FTSE 250 index's .FTMCfall was limited to 1% on the back of a 15% surge in miner Centamin CEY.Lafter Canada's Endeavour Mining EDV.TOrevealed a $1.9 billion buyout proposal. urn:newsml:reuters.com:*:nL4N28D1U1Diversified miner Glencore GLEN.Lwas among steepest fallers on the main board, tumbling 4% as investors were unimpressed by an update on the company's priorities and expected output. urn:newsml:reuters.com:*:nL4N28D2XAIn a broad sell-off, every sector in the main index recorded losses after Trump said an agreement with Beijing might have to wait until after the U.S. presidential election in November 2020. Asia-facing financial stocks, led by a 2.3% drop in HSBC HSBA.L, and oil majors Shell RDSa.Land BP BP.Lwere among those hardest hit due to the trade jitters. "This insouciance about the prospect of putting off any deal has completely upended market expectations that we were potentially millimetres away from a deal, and also flies in the face of the optimism that has seen markets rally strongly over the last few weeks," CMC analyst Michael Hewson said. The mood had already started to sour this week as Washington's tariffs on steel and aluminium imports from key Latin American trading partners and Trump's threat to slap separate tariffs on France and the European Union rekindled fears of global trade tensions. urn:newsml:reuters.com:*:nL8N28C2M8 urn:newsml:reuters.com:*:nL1N28C1VEReflecting that, the FTSE 100 is headed for its worst monthly performance since August despite being just days into the final month of the year. On Tuesday, the bourse also underperformed its European counterparts, with its dollar-earners falling further due to a rise in sterling after a new poll showed the Conservative Party widening its lead before an election next week. urn:newsml:reuters.com:*:nL8N28C56ZAmong midcaps, Centamin shares marked their biggest one-day climb in four-and-a-half years even as the British firm rejected Endeavour's takeover approach. "We believe the Endeavour all-share merger proposal for Centamin would provide the management and operational direction Centamin has lacked for the past two years," Peel Hunt analysts wrote. In other news-driven moves, Cineworld CINE.Llost 4% after the cinema chain warned on its annual trading performance. urn:newsml:reuters.com:*:nL4N28D1PD($1 = 0.7794 pounds) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Centamin vs gold https://tmsnrt.rs/2DSdgRT^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Shashwat Awasthi in Bengaluru; Editing by Sherry Jacob-Phillips and Alex Richardson) ((Shashwat.Awasthi@thomsonreuters.com; within UK: +1 646 223 3403; outside UK: +91 80 61822606, +91 80 37962606;)) (( For related prices, Reuters users may click on - * UK stock report .LFTSE index: 0#.FTS6techMARK 100 index: .FTT1XFTSE futures: 0#FFI:Gilt futures: 0#FLG:Smallcap index: .FTSCFTSE 250 index: .FTMCFTSE 350 index: .FTLCMarket digest: .AD.LTop 10 by vol: .AV.LTop price gainers: .NG.LTop % gainers: .PG.LTop price losers: .NL.LTop % losers: .PL.L* For related news, click on - * UK hot stocks: [HOT and GB] Wall Street: .NGilts report: GB/Euro bond report GVD/EURPan European stock report: .EUTokyo stocks: .THK stocks: .HKSterling report: GBP/Dollar report: USD/* For company prices, click on - * Company directory: UKEQBy sector: FTAX* For pan-European market data, click on - * European Equities speed guide................ EUR/EQUITYFTSE Eurotop 300 index........................... .FTEU3DJ STOXX index................................... .STOXXTop 10 STOXX sectors........................ .PGL.STOXXSTop 10 EUROSTOXX sectors................... .PGL.STOXXESTop 10 Eurotop 300 sectors.................. .PGL.FTEU3STop 25 European pct gainers.................... .PG.PEURTop 25 European pct losers..................... .PL.PEUR))
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