London stocks slide on fears of second virus wave – Reuters UK

FILE PHOTO: The Canary Wharf financial district is seen from the construction site of 22 Bishopsgate in London, Britain June 25, 2019. REUTERS/Hannah McKay/File Photo

(Reuters) – London-listed stocks snapped a two-day gaining streak on Tuesday as health experts warned of a deadly second wave of the COVID-19 pandemic in the UK amid a surge in cases worldwide, while safety equipment maker Halma tumbled on a glum annual forecast.

Halma’s shares (HLMA.L) slid 5.9% to the bottom of the FTSE 100 as it said it expected both profit and revenue to fall in its fiscal year 2021 and flagged potential job cuts.

The blue-chip FTSE 100 .FTSE was down 0.7%, with only a handful of stocks trading higher. Financials, health care and consumer staples shares were among the biggest drags on the index.

The mid-cap FTSE 250 .FTMC shed 0.9%, as authorities said a second wave of COVID-19 in the coming winter could kill up to 120,000 Britons over nine months in a worst-case scenario.

Online electricals retailer AO World (AO.L) jumped 3.7% to the top of the mid-cap index after posting a smaller annual loss on stronger demand as stay-at-home orders to curb the pandemic boosted online shopping.

Reporting by Shashank Nayar in Bengaluru; Editing by Shounak Dasgupta

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