London stocks slide as global coronavirus cases rise - GulfToday

London stocks slide as global coronavirus cases rise

London-Stock

Picture used for illustration.

UK shares fell on Monday as the World Health Organization reported a record daily increase in novel coronavirus infections, sparking fears of another round of lockdowns and further economic damage from the pandemic.

The blue-chip FTSE 100 was down 1%, tracking declines in other European markets after Germany's coronavirus reproduction rate jumped to 2.88, a rate showing infections are rising above the level needed to contain the disease over the longer term.

UK Prime Minister Boris Johnson is expected to unveil the latest easing of the country's coronavirus lockdown on Tuesday.


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The mid-cap FTSE 250 also shed 1%, led by declines in battered energy, banks and travel and leisure stocks.

Glencore Plc tumbled 5.4% after saying late on Friday the Office of the Attorney General of Switzerland had opened a criminal investigation into the commodity miner for failure to have measures in place to prevent alleged corruption in the Democratic Republic of Congo.

Reuters

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