Energy stocks drag FTSE 100 lower as virus fears weigh

  • Reuters
  • Stock Market News
Energy stocks drag FTSE 100 lower as virus fears weigh
Credit: © Reuters.

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* FTSE 100 down 0.6%, FTSE 250 drops 0.8%

Oct 26 (Reuters) - London's FTSE 100 retreated on Monday as a dip in oil prices hit energy stocks, while fears of a faltering economic recovery due to a resurgence in novel coronavirus cases weighed on European markets.

The commodity-heavy FTSE 100 index .FTSE fell 0.6%, dragged by banks .FTNMX8350 , mining .FTNMX1770 and industrial .FTNMX2720 stocks.

BP Plc BP.L and Royal Dutch Shell Plc RDSa.L tumbled 1.8% and 2.3%, respectively, as oil prices dropped on concerns over demand for crude. O/R

The domestically-focussed mid-cap FTSE 250 index .FTMC lost 0.8% even as a report said European Union chief Brexit negotiator Michel Barnier was planning to extend his London visit until Wednesday, while a UK minister saw a good chance of striking a trade deal. AstraZeneca Plc AZN.L rose 0.7% after a report said the COVID-19 vaccine being developed by the University of Oxford and the drugmaker produced a robust immune response in elderly people.

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