UPDATE 2-Mining stocks lift FTSE 100 as virus concerns, Brexit uncertainty weigh

  • Reuters
  • Stock Market News
UPDATE 2-Mining stocks lift FTSE 100 as virus concerns, Brexit uncertainty weigh
Credit: © Reuters.

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* EU's von der Leyen to call Johnson on Saturday

* EasyJet falls on scaling back of flying capacity

* All eyes on U.S. presidential election

* FTSE 100 up 0.1%, FTSE 250 falls 0.1%

(Adds comment; updates to close)

By Devik Jain

Nov 6 (Reuters) - London's FTSE 100 inched up on Friday, although gains were limited by concerns over surging coronavirus cases and a Brexit-trade deal, while investors waited for the outcome of a close U.S. presidential election race.

After trading as much as 0.8% in either direction, the blue-chip FTSE 100 index .FTSE closed 0.1% higher, helped by mining .FTNMX1770 and food and drug retailer .FTNMX5330 stocks but with a stronger pound weighing.

The domestically-focused mid-cap FTSE 250 index .FTMC ended 0.1% lower, with shares in James Fisher and Sons FSJ.L tumbling 25.7% after a disappointing trading update. Democrat Joe Biden took the lead over U.S. President Donald Trump in the battleground states of Pennsylvania and Georgia for the first time on Friday, putting him on the verge of winning the White House. markets are taking this with a pinch of salt and perceive Biden's lead to be significant enough that any challenge won't be taken seriously or won't be enough to change the market," said Craig Erlam, senior market analyst at Oanda.

"We've seen four really strong days of gains and are just seeing a little bit of profit taking."

Both the indexes logged their best weekly gain since early June as the British government and the Bank of England ramped up stimulus measures to support an economy facing the impact of a second nation-wide lockdown.

New COVID-19 infections in England have stabilised at around 50,000 a day, according to an ONS survey, but the reproduction "R" number was unchanged at between 1.1-1.3, suggesting the epidemic had continued to grow in recent weeks. trade deal talks were also in focus with the European Commission President set to call British Prime Minister Boris Johnson on Saturday to discuss the negotiations. Plc EZJ.L fell 2.6% after further scaling back its already reduced flying capacity due to new lockdowns, while Aviva Plc AV.L gained 2.1% after German peer Allianz SE ALVG.DE reported an unexpected rise in quarterly net profit.

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