🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

London stocks open lower on fears of second wave of infections, Fed outlook

Published 06/11/2020, 03:23 PM
Updated 06/11/2020, 03:30 PM
© Reuters.
UK100
-
FTMC
-
FTNMX601010
-

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 falls 2.7%, FTSE 250 down 2.8%

June 11 (Reuters) - London stocks opened lower on Thursday
as fears of a second wave of COVID-19 infections in the United
States and a gloomy outlook by the Federal Reserve trumped
optimism around a global economic revival.
Total cases of the novel coronavirus in the United States
cases surpassed 2 million on Wednesday, according to a Reuters
tally. The Fed projected the U.S. economy to shrink 6.5% in 2020
and signalled it plans years of extraordinary support for an
economy facing a long road back from the COVID-19 pandemic.

The blue-chip FTSE 100 index .FTSE slipped 2.7%, with oil
& gas stocks .FTNMX0530 leading declines with a 4.1% tumble.
Most cyclical stocks traded lower at the opening bell, while
defensive healthcare stocks inched higher.
The British mid-cap index .FTMC fell 2.8%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.