July 16, 2020 / 7:26 AM / 20 days ago

London stocks track declines in Asia; Ladbrokes owner slides

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* FTSE 100, FTSE 250 both down 0.4%

July 16 (Reuters) - The FTSE 100 slipped from three-week highs on Thursday as U.S.-China tensions and the surge in global coronavirus infections weighed on sentiment, while Ladbrokes owner GVC tumbled after it said its long-time chief executive officer would step down.

GVC Holdings fell 5.8% to the bottom of the FTSE 100 after it said Kenny Alexander was retiring after 13 years at the helm during which he built the company into one of the world’s biggest gambling businesses.

The blue-chip FTSE 100 and the mid-cap FTSE 250 were both down 0.4%, tracking declines across Europe and Asia a day after sentiment was lifted by hopes of a COVID-19 vaccine.

Personal goods firms, miners and homebuilders were among the biggest decliners in early trading.

Recruiter Hays slipped 2.6% to the bottom of the FTSE 250 as it warned of lower annual profit amid a slump in fee income. (Reporting by Shashank Nayar in Bengaluru; Editing by Subhranshu Sahu)

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