European stocks end four-day winning run as UK's FTSE drags [Reuters]
GSK plc American Depositary Shares (Each representing two Ordinary Shares) (GSK)
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Source: Reuters
European stocks end four-day winning run as UK's FTSE drags (Reuters) - European stocks broke a four-day winning streak on Thursday as ex-dividend trading and a stronger pound hit the UK’s blue-chip companies, while investors sold off banks and energy stocks that have outperformed this week. The pan-European STOXX 600 closed 0.6% lower, with London's FTSE 100 .FTSE sliding 1.5% as a jump in the pound hurt exporters on the index, while heavyweights like AstraZeneca ( AZN.L ), BP ( BP.L ), and GlaxoSmithKline ( GSK.L ) traded without entitlement to a dividend payout, hitting their shares. [.L] [GBP/] Reversing a recent trend, investors favoured pockets of markets that have remained resilient in the wake of the coronavirus crisis such as the technology sector. On Wall Street, Apple ( AAPL.O ) was set to record $2 trillion in market capitalisation. [.N] That left some of the cyclical sectors that are more exposed to an economic downturn, such as banks .SX7P, oil & gas .SXEP, miner
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Sec Filings
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- GSK's page on the SEC website