UPDATE 2-London stocks slip from near two-week highs as COVID-19 fears weigh

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* Investors book profits following Monday's jump
* Halfords tumbles on gloomy profit scenario
* Premier Inn owner Whitbread slides as revenue plunges
* Online trading platform Plus500 tops FTSE 250
* FTSE 100 down 1.5%, FTSE 250 down 1%

(Adds comments, updates prices to close)
By Shreyashi Sanyal
July 7 (Reuters) - UK shares slipped from near two-week
highs on Tuesday as a surge in U.S. coronavirus cases turned
investors away from riskier trades, while Halfords tumbled after
a bleak profit expectation.
The motor and cycling products retailer HFD.L plunged
14.1% and posted its worst day in more than three months as it
expects a profit scenario ranging from zero to a pretax loss of
10 million pounds ($12.5 million). "The outlook is very uncertain overall, the priority is
going to be keeping costs down, and customers safe, as has
become a bit of a mantra across the retail sector more
generally," said Sophie Lund-Yates, equity analyst at Hargreaves
Lansdown.
The export-laden FTSE 100 .FTSE fell 1.5% wiping out most
of Monday's gains, while British mid-caps .FTMC dropped 1%,
with banks .FTNMX8350 leading declines.
"Investors are getting back to the reality of rising
coronavirus cases, which is causing some caution and fear to be
back following yesterday's rally," said David Madden, analyst at
CMC Markets in London.
Aggressive global stimulus has partly powered a rebound in
UK stock markets since a coronavirus-driven crash in March, but
the pace of gains has slowed in the past two months with
economic figures still on shaky ground.
Data on Tuesday showed British house prices fell for a
fourth month in a row in June, the longest run of monthly
declines since 2010. Newspaper publisher Reach RCH.L tumbled 14.2%, logging its
worst day since late March as it said it would cut about 550
jobs — 12% of its workforce — after the COVID-19 pandemic hit
circulation and advertising. Premier Inn owner Whitbread WTB.L fell 5.5% on reporting
an 80% plunge in first-quarter sales as the COVID-19 lockdown
shuttered most of its hotels in Britain and Germany.
Online trading platform Plus500 PLUSP.L rose 3.3% after
saying revenue in the first half nearly quadrupled.