London stocks set for weekly declines as virus fears weigh

  • Reuters
  • Stock Market News
London stocks set for weekly declines as virus fears weigh
Credit: © Reuters.

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* 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. 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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