London stocks dip on second virus wave fears

  • Reuters
  • Stock Market News
London stocks dip on second virus wave fears
Credit: © Reuters.

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* FTSE 100 down 0.5%, FTSE 250 off 0.1%

June 24 (Reuters) - London stocks retreated on Wednesday as a spike in novel coronavirus cases across the globe compounded fears of a second wave of the pandemic, while builder Crest Nicholson tumbled after issuing a grim forecast for the year.

The homebuilder CRST.L fell 2.9% to the bottom of the FTSE 250 as it posted a first-half pretax loss and said it expected annual adjusted pretax profit to fall around 60% to 70% due to coronavirus-led disruptions. blue-chip FTSE 100 .FTSE was down 0.5% and the domestically focussed FTSE 250 .FTMC 0.1%, with financial, consumer staple and industrial stocks among the biggest drags.

A day after Prime Minister Boris Johnson further relaxed a coronavirus-induced lockdown, top medics warned British political parties that local flare-ups of the new coronavirus are likely and a second wave is a real risk. a bright spot, Mr Kipling cakes maker Premier Foods Plc PFD.L rose 2% after forecasting revenue and trading profit for the new year to be above current estimates.

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