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FTSE 100 slips as British Airways, virus concerns weigh

Published 10/22/2020, 03:16 PM
Updated 10/22/2020, 03:20 PM
© Reuters.
UK100
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ULVR
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FTMC
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ICAG
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FTNMX502030
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FTUB3510
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 down 0.8%, FTSE 250 loses 0.4%

Oct 22 (Reuters) - The FTSE 100 retreated on Thursday after
British Airways-owner IAG posted a quarterly loss, while
investors looked to a parliament address later in the day by
Finance Minister Rishi Sunak on the economic outlook.
The blue-chip FTSE 100 index .FTSE fell 0.8%, with IAG
ICAG.L sliding 5% as the airline group further downgraded its
capacity outlook for the rest of the year due to
coronavirus-related travel restrictions. The domestically-focussed mid-cap FTSE 250 index .FTMC
lost 0.4%, dragged by declines in real estate .FTUB8600 and
industrial .FTNMX2720 stocks.
Sunak is expected to unveil additional measures to help
struggling firms, media reports said, as he faces growing
pressure to offer more support to businesses and workers hit by
tightening COVID-19 lockdown rules. Unilever ULVR.L rose 0.8% after it reported a
stronger-than-expected return to sales growth in the third
quarter, led by emerging markets where it generates the bulk of
its revenue.

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