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London stocks rebound from earlier losses; lockdown restrictions eyed

Published 22/09/2020, 08:12
© Reuters.
UK100
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KGF
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WTB
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FTMC
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BAG
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(For a live blog on European stocks, type LIVE/ in an Eikon
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* FTSE 100 up 0.6%, FTSE 250 slips 0.1%

Sept 22 (Reuters) - London shares rebounded slightly on
Tuesday from their worst sell-off in more than three months as
investors awaited details of new lockdown restrictions liable to
deliver another blow to Britain's struggling domestic economy.
Prime Minister Boris Johnson is expected to tell people to
work from home and impose new restrictions on pubs, bars and
restaurants in an attempt to tackle a swiftly accelerating
second wave of the COVID-19 outbreak. The blue-chip FTSE 100 index .FTSE however rose 0.6%,
recovering a little of Monday's almost 3.5% loss as investors in
its largely externally-focussed stocks took faith from a
strengthening of the dollar. The mid-cap index .FTMC slipped
0.1%
In company news, Premier Inn-owner Whitbread WTB.L fell
3.0% after it said it could cut up to 6,000 jobs in its hotel
and restaurant business as it expects demand to remain at lower
levels in the short to medium term. Fizzy drink Irn-Bru maker A.G. Barr BAG.L reported a 63%
fall in its half-year profit over lower demand amid the
coronavirus crisis while home improvement retailer Kingfisher
KGF.L reported a 23.1% rise in its half-year income driven by
strong sales recovery.


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