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UK's FTSE 100 inches down as COVID fears dull Christmas cheer

UK's FTSE 100 inches down as COVID fears dull Christmas cheer

reuters.com · 12/30/2021 03:20
UK's FTSE 100 inches down as COVID fears dull Christmas cheer

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FTSE 100 down 0.2%, FTSE 250 flat

- UK shares edged lower on Thursday, after hitting 22-month highs in the previous session, as a surge of COVID-19 cases offset optimism around a "Santa Claus rally" in thin year-end trading.

The FTSE 100 .FTSE fell 0.2% by 0807 GMT, with declines in financial and energy stocks weighing on the blue-chip index, while the domestically focussed mid-cap index .FTMC was flat.

The UK reported a record 183,037 COVID-19 cases on Wednesday, over 53,000 more than the previous high registered just a day earlier, with the Omicron variant accounting for 90% of all community infections. nL1N2TE18F

Banks .FTNMX301010 reversed the previous session's gains to fall 0.2%, while life insurance stocks .FTNMX303010 declined 0.3% on the blue-chip index.

Oil majors BP BP.L and Royal Dutch Shell RDSa.L fell nearly 0.4% each after top consumer China cut import quotas. O/R

Weaker travel and leisure stocks .FTNMX405010, down 0.6%, capped gains on the domestic FTSE 250 index.

British house prices rose by a stronger-than-expected 1.0% in December from November, capping the biggest full-year rise in prices since 2006, figures from mortgage lender Nationwide showed on Thursday. nL8N2TF0OK

UK markets will close early on Friday for the New Year's Eve holiday.



UK's industrial stocks eyeing best yearly performance in 23 yearshttps://tmsnrt.rs/3EzfnXD

(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Devika Syamnath)

((BansariMayur.Kamdar@thomsonreuters.com;))

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