UK shares fall as rising COVID-19 cases in Europe spur recovery worries
(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 0.6%, FTSE 250 off 0.3%
March 24 (Reuters) - British shares inched lower on Wednesday as a jump in COVID-19 cases across Europe stoked worries about its near-term economic impact, while Bellway fell after posting lower half-yearly profit.
The blue-chip FTSE 100 index .FTSE was down 0.6%, with bank stocks including HSBC Holdings HSBA.L , Barclays Plc BARC.L , and Lloyds Banking Group LLOY.L falling between 1% and 1.5%.
Oil heavyweights BP Plc BP.L and Royal Dutch Shell Plc RDSa.L were also among the biggest laggards.
British consumer price inflation fell to 0.4% in February from 0.7% in January, reflecting unusual patterns of clothing discounts, official figures showed, versus forecasts in a Reuters poll for it to edge up to 0.8%. domestically focused mid-cap FTSE 250 index .FTMC fell 0.3%, dragged down by industrials stocks.
Housebuilder Bellway Plc BWY.L shed 0.4%, after reporting a 4% fall in pre-tax profit for the six months to Jan. 31. company TUI TUIGn.DE TUIT.L gained 0.8%, despite saying it would shut 48 retail stores across Britain, adding to the 166 it had already closed there during the pandemic.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or