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CORRECTED-FTSE 100 loses steam after 8-day rally as recovery concerns weigh

Published 11/12/2020, 04:19 PM
Updated 11/12/2020, 04:20 PM
© Reuters.
UK100
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BRBY
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FTMC
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FTNMX301010
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FTNMX601010
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(Corrects FTSE winning streak to 8 days from 3 days in
headline)
* FTSE 100 down 0.9%, FTSE 250 falls 0.1%

Nov 12 (Reuters) - London's FTSE 100 slipped on Thursday
after staging a near 8% rally this week, as slower-than-expected
domestic economic growth in September underscored concerns about
a faltering recovery from the coronavirus-driven recession.
The blue-chip FTSE 100 index .FTSE fell 0.9%, led by bank
.FTNMX8350 and energy .FTNMX0530 stocks, while the
domestically focussed mid-cap FTSE 250 .FTMC lost 0.1%.
Official data showed Britain's economy grew by only 1.1% in
September from August, even before the latest restrictions on
businesses, while finance minister Rishi Sunak said new steps
taken to curb the spread of COVID-19 had likely slowed growth
even more since then. In company news, luxury brand Burberry Group Plc BRBY.L
rose 4.1% after its sales returned to growth in October as
comparable store sales fell by less than expected in the
previous quarter.

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