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London stocks fall as weak earnings weigh; Cineworld slumps

Credit: REUTERS/Luke MacGregor

UK shares dropped on Thursday as fresh pandemic curbs threatened to derail a rebound in economic activity, while cinema operator Cineworld tumbled after warning it may need to raise funds to weather the crisis.

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FTSE 100 down 0.9%, FTSE 250 drops 1.1%

Sept 24 (Reuters) - UK shares dropped on Thursday as fresh pandemic curbs threatened to derail a rebound in economic activity, while cinema operator Cineworld tumbled after warning it may need to raise funds to weather the crisis.

The FTSE 100 index .FTSE fell 0.9%, with travel and leisure stocks .FTNMX5750 declining the most due to fresh curbs on movement and social gathering.

The mid-cap index .FTMC lost 1.1%, with Cineworld CINE.L tumbling 14.3% - on track to record its biggest single-day fall in nearly five months, as it swung to a first-half loss.

Pub owner Mitchells & Butlers MAB.L fell 3.82% after it said total sales for the 51 weeks ended Sept. 19 dropped 35% due to store closures and a sharp slump in demand amid widespread restrictions.

(Reporting by Shashank Nayar in Bengaluru; Editing by Subhranshu Sahu)

((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2256;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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