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Company News

Energy stocks weigh on FTSE 100, new COVID-19 measures awaited

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* FTSE 100 down 0.3%, FTSE 250 flat

Oct 12 (Reuters) - London stocks were subdued on Monday as a dip in oil prices hit energy stocks, while investors remained cautious with Prime Minister Boris Johnson expected to set out new measures to try to contain the growing coronavirus crisis.

The blue-chip FTSE 100 index fell 0.3%, weighed down by oil majors BP Plc and Royal Dutch Shell, while the mid-cap index remained flat.

Johnson will hold a meeting of the government’s emergency COBRA committee and is expected to set out a new system of “local COVID alert levels” of medium, high or very high, aimed at helping tailor restrictions for different parts of England.

AstraZeneca Plc gained 0.1% after the drugmaker struck a $486 million deal with the U.S. government to develop and secure supplies of up to 100,000 doses of COVID-19 antibody treatment, a similar class of drug that was used in treating President Donald Trump. (Reporting by Devik Jain in Bengaluru; Editing by Subhranshu Sahu)

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