U.K. stocks were subdued on Thursday as investors fretted over the Indian coronavirus variant which continues to spread across England. On Wednesday, the U.K. COVID-19 cases hit 3,000 for the first time in more than six weeks.
The government has advised people to minimize travel in and out of eight local areas where the Indian variant is spreading fastest.
The benchmark FTSE 100 was marginally lower at 7,025 after ending flat with a negative bias on Wednesday.
HSBC Holdings edged down slightly after the lender said it will exit its U.S. domestic mass market retail banking business and retail business banking through a number of divestitures, and wind-down of the residual branch network.
BP Plc fell over 1 percent and Royal Dutch Shell lost about 2 percent as oil prices declined on concerns over Indian demand and increasing Iranian supplies.
Higher metal prices helped lift miners, with Antofagasta, Anglo American and Glencore climbing 1-3 percent.
Rolls-Royce Holding and Melrose Industries both jumped nearly 3 percent after Airbus reiterated it expects the commercial aircraft market to recover to pre-COVID levels between 2023 and 2025.
Food and beverages group Tate & Lyle slumped 5.4 percent after a warning that earnings will take a hit in the year ahead.
FTSE 100 Edges Lower In Choppy Trade
2021-05-27 09:08:53
