Surging COVID-19 cases, U.S.-China tensions defend London stocks muted

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FTSE 100 down 0.1%, FTSE 250 off 0.3%

Aug 7 (Reuters) – Trading in London-listed shares modified into subdued on Friday as rising COVID-19 cases and U.S.-China tensions dented sentiment at the pause of a week marked by largely upbeat quarterly earnings and bettering financial recordsdata.

The blue-chip FTSE 100 modified into down 0.1% however unexcited on goal for its first weekly originate in three as investors wager on more stimulus to pressure a put up-pandemic financial rebound.

The mid-cap FTSE 250 dipped 0.3%, with losses in industrial, vitality and tech-linked stocks offsetting positive aspects for user goods, healthcare and utility corporations.

Shares in Asia took a hit earlier within the day as Sino-U.S. tensions escalated with U.S. President Donald Trump banning transactions with two long-established Chinese apps, Tencent’s WeChat and ByteDance’s Tiktok.

Hikma Prescribed capsules Plc jumped 7.4% to the head of the FTSE 100 after elevating its annual gross sales forecast for two of its perfect divisions and reporting elevated first-half income.

But TP ICAP Plc, the arena’s perfect inter-provider dealer, fell 5.4% because it signalled a tepid start up to the 2d half of the year. (Reporting by Sagarika Jaisinghani in Bengaluru; Enhancing by Subhranshu Sahu)


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