Company News

Slide in bank stocks, rising virus cases weigh on FTSE 100

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

* FTSE 100 down 0.3%, FTSE 250 flat

Sept 18 (Reuters) - A slide in banking stocks weighed on London’s FTSE 100 on Friday, a day after the Bank of England flagged the possibility of negative interest rates, while a rise in coronavirus cases across the UK fuelled fears of another round of lockdowns.

Britain’s health minister said on Friday that the novel coronavirus was accelerating across the country, with hospital admissions doubling every eight days, but refused to say whether or not another national lockdown would be imposed next month.

The FTSE 100 index fell 0.26% with banks and travel stocks leading declines.

In company news, British hedge fund manager Man Group rose 0.5% after it said it would start a share buyback programme of up to $100 million, with around 66 million shares to be acquired. (Reporting by Shashank Nayar in Bengaluru; Editing by Subhranshu Sahu)