UK midcaps drop amid growing chances of Brexit delay

UK-listed companies with greater domestic exposure slid on Monday as Brexit uncertainties deepened after lawmakers forced Prime Minister Boris Johnson to seek another extension from the European Union, while blue-chips received some support from a weaker sterling. An index of midcap companies was down by 0.3% as of 0709 GMT, pointing to mounting fears at home over the plight of Brexit. The exporter-heavy FTSE 100 added 0.2%.

With a 4% drop, Smith+Nephew was the second biggest loser on the main board after the medical device maker said Chief Executive Officer Namal Nawana would step down after just 17 months in the role. Capital & Counties Properties outshined the midcap bourse with a 6% leap after luxury property developer Nicholas Candy's investment arm said it was in early talks for a possible cash offer for the property manager.