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British shares log weekly loss as commodity, travel stocks weigh

The blue-chip FTSE 100 closed 0.5% lower, while the domestically focussed mid-cap FTSE 250 index ended 0.4% down.

November 20, 2021 / 09:18 IST
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London stocks slipped on Friday, dragged down by commodity and travel shares on concerns around fresh COVID-19 curbs in Europe, while rising bets about rate hikes following strong economic data pushed the FTSE 100 index to its first weekly loss in four.

The blue-chip FTSE 100 closed 0.5% lower, while the domestically focussed mid-cap FTSE 250 index ended 0.4% down.

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Oil majors BP and Shell slipped 2.9% and 3.1%, respectively, as crude prices sank amid a resurgent pandemic in Europe. Banks dropped 1.7%.

Carriers Ryanair , British Airways-owner IAG, Wizz Air, EasyJet, Holiday Inn owner , Premier Inn owner Whitbread and caterer Compass Group slipped between 2.3% and 5.2% after Austria said it will reimpose a full COVID-19 lockdown, while neighbouring Germany warned it may follow suit to tackle a new wave of infections. read more