London stocks slip from near two-week highs as COVID-19 fears weigh

  • Reuters
  • Stock Market News
London stocks slip from near two-week highs as COVID-19 fears weigh
Credit: © Reuters.

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* FTSE 100 down 0.9%, FTSE 250 off 0.4%

July 7 (Reuters) - London-listed shares retreated on Tuesday as investors booked profits after a strong rally in the previous session, with a surge in U.S. coronavirus cases also weighing on sentiment.

The export-laden FTSE 100 .FTSE was down 0.9% after marking its best session in nearly three weeks on Monday in the wake of a jump in Chinese blue-chip stocks. MKTS/GLOB

The mid-cap FTSE 250 .FTMC fell 0.4%, with banks .FTNMX8350 , pharmaceutical .FTNMX4570 and construction .FTNMX2350 stocks leading declines.

Newspaper publisher Reach RCH.L tumbled 10.8% and was set for its worst day in more than three months as it said it would cut about 550 jobs — 12% of its workforce — after the COVID-19 pandemic hit circulation and advertising. a bright spot, online trading platform Plus500 PLUSP.L jumped 5.7% to the top of the FTSE 250 after saying revenue in the first-half nearly quadrupled.

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