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FTSE 100 retreats as virus fears dent recovery optimism

Published 22/07/2020, 08:21
© Reuters.
UK100
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KGF
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MRON
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* FTSE 100 down 0.1%, FTSE 250 up 0.4%

July 22 (Reuters) - London's FTSE 100 dipped on Wednesday as
a worsening COVID-19 pandemic dulled optimism around a swift
economic recovery, while Melrose Industries slumped after
booking a quarterly loss.
Turnaround specialist Melrose MRON.L tumbled 9.7% to the
bottom of the FTSE 100 as it signalled it could cut jobs to rein
in costs to combat the coronavirus-led downturn. The blue-chip FTSE 100 .FTSE was down 0.1%, tracking
declines in Europe with global coronavirus infections surging
past 15 million. Healthcare, industrials and consumer staples
stocks were among the biggest drags on the index. .EU
The mid-cap FTSE 250 .FTMC , however, rose 0.4%, supported
by real estate, consumer discretionary and tech stocks.
Home improvement retailer Kingfisher KGF.L jumped 7.5% as
it forecast first-half underlying profit ahead of last year on
strong second-quarter trading and cost reductions.

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