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Company News

FTSE 100 on course for monthly decline as virus fears rise

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* FTSE 100 down 0.6%, FTSE 250 drops 0.4%

Sept 30 (Reuters) - London’s FTSE 100 fell on Wednesday and was headed for its second monthly decline in six as growing economic uncertainty due to the COVID-19 pandemic as well as Brexit subdued risk appetite.

The blue-chip FTSE 100 lost 0.6%, led by travel and leisure and construction stocks, while the mid-cap FTSE 250 shed 0.4%, with analysts warning of higher volatility during the session as investors rebalance their portfolios at the end of the quarter.

Meanwhile, data confirmed that Britain’s economy shrank by a record 19.8% in the second quarter of 2020 when COVID-19 lockdown measures were in force, a slightly smaller decline than an initial estimate of a 20.4% fall in output.

British online fashion retailer Boohoo gained 2.3% after it raised its full-year guidance and reported a 51% jump in first-half profit. (Reporting by Shashank Nayar in Bengaluru; Editing by Subhranshu Sahu)

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