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London stocks set for weekly declines as virus fears weigh

Published 07/10/2020, 03:14 PM
Updated 07/10/2020, 03:20 PM
© Reuters.
UK100
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FTNMX303010
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 down 0.6%, FTSE 250 off 0.4%

July 10 (Reuters) - London-listed shares fell for a fourth
straight session on Friday and were headed for weekly losses as
the relentless surge in global coronavirus cases dulled optimism
around a nascent economic recovery.
The blue-chip FTSE 100 .FTSE was down 0.6%, with BP Plc
BP.L and Royal Dutch Shell Plc RDSa.L tracking a slide in
oil prices on worries that the surge in infections would spark
new lockdowns, denting fuel demand. O/R
The mid-cap FTSE 250 .FTMC slipped 0.4%. Energy
.FTNMX0530 , personal goods .FTNMX3760 and life insurance
.FTNMX8570 stocks were among the biggest decliners in early
trading.
A stimulus-led rally in UK stock markets has slowed this
month as investors worry about a slower-than-expected recovery
from the pandemic, with economic data still signalling only a
tentative revival in business activity last month.
Data on Friday showed British shoppers returned to the high
street in June as the coronavirus lockdown eased, but overall
numbers were much lower than normal for the time of year.

In thin company news, engineering firm Senior Plc SNR.L
recouped opening declines to trade flat after saying it laid off
another 12% of its staff and forecast a drop of about 30% in
revenue for the first half of the year.

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