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London stocks flat as virus risks weigh on positive earnings forecasts

Published 12/01/2021, 09:28
Updated 12/01/2021, 09:30
© Reuters.
UK100
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KGF
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FTNMX601010
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FTNMX404010
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THG
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* FTSE 100 flat, FTSE 250 flat

Jan 12 (Reuters) - British shares traded flat on Tuesday as
a set of positive earnings updates helped boost confidence in
the economy's recovery, while investor worries over climbing
coronavirus cases weighed on sentiment.
The blue-chip FTSE 100 index .FTSE was flat with energy
.FTNMX0530 and retail stocks .FTNMX5370 gaining the most,
with retailer Kingfisher KGF.L being the top gainer on the
index.
The home improvement retailer rose 3.4% after reporting
strong trade across its markets with fourth-quarter to Jan. 9
underlying sales up 16.9%. E-commerce retailer The Hut Group THG.L gained 3.1% after
it raised 2021 revenue forecast by 10%, underpinned by its
acquisition of Dermstore.com and a surge in online demand for
its beauty products. However, gains were capped on Finance Minister Rishi Sunak's
warning on Monday that Britain's economy would get worse before
it got better, with the country now in its third national
lockdown and as it struggles to contain the spread of COVID-19.

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