UPDATE 2-British shares fall on virus risks; Persimmon tumbles

  • Reuters
  • Stock Market News
UPDATE 2-British shares fall on virus risks; Persimmon tumbles
Credit: © Reuters.

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* Persimmon falls on lower revenue, COVID-19 restrictions weigh

* Countries across Europe announce tighter, longer lockdowns

* Fashion retailer ASOS jumps on full-year profit forecast

* FTSE 100 down 0.1%, FTSE 250 falls 0.5% (Updates to close)

By Shashank Nayar

Jan 13 (Reuters) - London listed shares fell on Wednesday, as rising coronavirus cases and fresh lockdowns imposed across Europe raised caution about the near-term effects on the economy.

The blue-chip FTSE 100 index .FTSE dropped 0.1%, while the mid-cap FTSE 250 index .FTMC fell 0.5%.

Governments across Europe announced tighter and longer coronavirus lockdowns and curbs amid fears of a fast-spreading variant first detected in Britain, with vaccinations not expected to help much until the spring. are still wondering where the next big catalyst for further upside will come from, and are painfully aware that the COVID-19 crisis remains untamed despite the introduction of vaccination programmes," said Chris Beauchamp, chief market analyst at IG.

The FTSE 100 has recorded consistent monthly gains since November, supported by hopes of a vaccine-led economic recovery, but it has recently lost steam as a wave of coronavirus infections sparked new business restrictions.

Housebuilder Persimmon PSN.L dropped 6.2% and fell the most on the FTSE 100 index after it reported a 9% fall in 2020 revenue and flagged risks to its construction sites from the fast-spreading new variant of COVID-19. L4N2JO1QD

"The slide probably reflects investors' concerns over the current state of the pandemic and how it could impact near-term demand...," says Russ Mould, AJ Bell Investment Director.

However, deliveries of COVID-19 vaccines to Britain are on track and sufficient to meet the government's vaccination targets, Health Secretary Matt Hancock said, although he declined to give figures on supplies. recruiter PageGroup PAGE.L fell 2.8% after it posted a 20% drop in fourth-quarter gross profit, while fashion retailer ASOS ASOS.L jumped 2% on forecasting a full-year profit after Christmas trading surpassed its expectations.

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