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London stocks drop as pandemic's corporate damage grows; NSF crashes

Published 06/25/2020, 03:26 PM
Updated 06/25/2020, 03:30 PM
© Reuters.
UK100
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EZJ
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VANQ
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FTMC
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FTNMX301010
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FTNMX405010
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FTNMX401010
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NSF
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 down 1.3%, FTSE 250 off 1.4%

June 25 (Reuters) - London-listed shares dropped for a
second straight day on Thursday as the latest round of corporate
earnings reports underlined the hit from the COVID-19 pandemic,
with lender Non-Standard Finance crashing after warning of going
concern risks.
The company NSF.L tumbled 33.9% to a record low after
saying the coronavirus crisis had halted lending, compounding
the lender's woes after its failed attempt to gain scale by
buying rival Provident Financial Plc PFG.L .
The blue-chip FTSE 100 .FTSE fell 1.3% and the mid-cap
FTSE 250 .FTMC 1.4%, tracking a slide in global equity markets
on fears of more disruptions to business activity as cases of
the novel coronavirus continued to surge.
Battered auto .FTNMX3350 , travel and leisure .FTNMX5750
and banking stocks .FTNMX8350 fell between 1.4% and 1.9%, with
no stocks on the FTSE 100 trading higher.
Low-budget air carrier eazyJet EZJ.L fell 5.8% a day after
reporting a bigger loss for the first half of the year due to
the COVID-19 pandemic. It said on Thursday it had raised $520
million through a share placing to shore up liquidity.

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