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London stocks set for weekly loss; Indivior jumps

Published 01/15/2021, 04:24 PM
Updated 01/15/2021, 04:30 PM
© Reuters.
UK100
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MGGT
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FTNMX501010
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FTNMX551030
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INDV
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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 0.5%, FTSE 250 off 0.2%

Jan 15 (Reuters) - British shares dropped on Friday and were
set to close the week lower as fresh lockdowns and rising virus
cases dampened hopes of a swift economic recovery, while
drugmaker Indivior gained on higher revenue forecast.
The British economy will take more than two years to recover
to its pre-coronavirus level, a Reuters poll found, with more
than 70 economists saying it would contract 1.4% this
quarter. The blue-chip FTSE 100 index .FTSE fell 0.5%, with mining
.FTNMX1770 and construction stocks .FTNMX2350 declining the
most.
The UK economy shrank by 2.6% in November, its first monthly
fall in output since the depths of an initial COVID-19 lockdown
in April, as new movement restrictions were imposed, but the
drop was much lower than the average forecast. Aircraft parts supplier Meggitt MGGT.L gained 3.0% after
it said the recent launch of COVID-19 vaccines and pent-up
demand could support a recovery in civil aviation this
year. Indivior Plc INDV.L gained 6.2% after raising its annual
revenue forecast, while AstraZeneca slipped 0.3% even after its
cancer drug Imfinzi received approvals in Europe and
Britain.

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