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London stocks rebound from earlier losses; lockdown restrictions eyed

Credit: REUTERS/TOBY MELVILLE

London shares rebounded slightly on Tuesday from their worst sell-off in more than three months as investors awaited details of new lockdown restrictions liable to deliver another blow to Britain's struggling domestic economy.

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FTSE 100 up 0.6%, FTSE 250 slips 0.1%

Sept 22 (Reuters) - London shares rebounded slightly on Tuesday from their worst sell-off in more than three months as investors awaited details of new lockdown restrictions liable to deliver another blow to Britain's struggling domestic economy.

Prime Minister Boris Johnson is expected to tell people to work from home and impose new restrictions on pubs, bars and restaurants in an attempt to tackle a swiftly accelerating second wave of the COVID-19 outbreak.

The blue-chip FTSE 100 index .FTSE however rose 0.6%, recovering a little of Monday's almost 3.5% loss as investors in its largely externally-focussed stocks took faith from a strengthening of the dollar. The mid-cap index .FTMC slipped 0.1%

In company news, Premier Inn-owner Whitbread WTB.L fell 3.0% after it said it could cut up to 6,000 jobs in its hotel and restaurant business as it expects demand to remain at lower levels in the short to medium term.

Fizzy drink Irn-Bru maker A.G. Barr BAG.L reported a 63% fall in its half-year profit over lower demand amid the coronavirus crisis while home improvement retailer Kingfisher KGF.L reported a 23.1% rise in its half-year income driven by strong sales recovery.

(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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