NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

UPDATE 2-UK stocks fall as Britain tightens curbs over virus fears

Published 30/12/2020, 10:26
© Reuters.
UK100
-
HSBA
-
BARC
-
LLOY
-
AZN
-
FTMC
-

* UK imposes more lockdowns
* AstraZeneca COVID-19 vaccine gets UK nod
* Brexit deal passes parliament vote
* British house prices rise the most in six years
* FTSE 100 falls 0.7%, FTSE 250 down 0.9%

(Updates to market close)
By Shivani Kumaresan
Dec 30 (Reuters) - British stocks ended lower on Wednesday,
reversing early gains as fears over a fast-spreading new strain
of the coronavirus led to most of the country being placed under
tighter restrictions, even as Britain approved AstraZeneca's
COVID-19 vaccine.
The blue-chip FTSE 100 .FTSE lost 0.7%, after hitting a
fresh 10-month high in the previous session.
Miners and consumer stocks, mainly Rio Tinto RIO.L , Anglo
American AAL.L , Diageo DGE.L were the biggest drag on the
index.
Health Secretary Matt Hancock said on Wednesday more areas
of England would be placed under the strictest COVID-19
restrictions as a highly infectious variant of the virus is
spreading across the country. "More lockdowns doesn't help market sentiment in the short
term. There will be an economic knock-on effect upon that," said
Russ Mould, investment director at AJ Bell.
Britain is struggling to contain the coronavirus pandemic,
with the country recording one of the world's highest death
tolls of around 65,000 by mid-December, while the emergence of a
more infectious virus variant has compounded its problems.
Britain on Wednesday became the first country in the world
to approve the coronavirus vaccine developed by Oxford
University and AstraZeneca AZN.L , hoping that rapid action
will help it stem a record surge of infections. Shares of AstraZeneca AZN.L closed 0.8% lower.
"AstraZeneca said it will not look to profiteer from the
vaccine which is fantastic for society, but the market saw it as
selfish and ungrateful," Mould said.
The mid-cap FTSE 250 index .FTMC , considered a barometer
of Brexit sentiment, shed 0.9%, although British lawmakers
approved Prime Minister Boris Johnson's post-Brexit trade deal
with the European Union. In a positive turn for the economy, British house prices
rose faster than expected in December to record their biggest
annual increase in six years, mortgage lender Nationwide said.
In company news, Energean ENOG.L rose 3.8% after saying it
would acquire the remaining 30% stake in its Israeli offshore
fields.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.