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

Published 07/08/2020, 08:14
Updated 07/08/2020, 08:18
Surging COVID-19 cases, U.S.-China tensions keep London stocks muted
UK100
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HIK
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TCAPI
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FTMC
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0700
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(For a live blog on European stocks, type LIVE/ in an Eikon
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* FTSE 100 down 0.1%, FTSE 250 off 0.3%

Aug 7 (Reuters) - Trading in London-listed shares was
subdued on Friday as rising COVID-19 cases and U.S.-China
tensions dented sentiment at the end of a week marked by largely
upbeat quarterly earnings and improving economic data.
The blue-chip FTSE 100 .FTSE was down 0.1% but still on
course for its first weekly gain in three as investors bet on
more stimulus to drive a post-pandemic economic rebound.
The mid-cap FTSE 250 .FTMC dipped 0.3%, with losses in
industrial, energy and tech-related stocks offsetting gains for
consumer goods, healthcare and utility firms.
Stocks in Asia took a hit earlier in the day as Sino-U.S.
tensions escalated with U.S. President Donald Trump banning
transactions with two popular Chinese apps, Tencent (HK:0700)'s WeChat and
ByteDance's Tiktok. MKTS/GLOB
Hikma Pharmaceuticals Plc HIK.L jumped 7.4% to the top of
the FTSE 100 after raising its annual sales forecast for two of
its biggest divisions and reporting higher first-half profit.
But TP ICAP Plc TCAPI.L , the world's largest inter-dealer
broker, fell 5.4% as it signalled a tepid start to the second
half of the year.

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