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FTSE 100 floored by Covid-19 fears, stimulus disappointment
StockMarketWire.com
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The FTSE 100 fell 0.4% to 5,837.60 by midday on Monday amid downbeat news on coronavirus infections and a continuing lack of progress on US stimulus ahead of next week's presidential election.
Germany's DAX index suffered a much more significant fall as software firm SAP released a disappointing update.
US futures pointed to a weaker open on Wall Street later.
In corporate news, Coca-Cola bottler Coca-Cola European Partners jumped 5.8% to 34.39c after it lobbed a €6.5 billion bid for Australian counterpart Coca-Cola Amatil.
The Australian company agreed to recommend the offer to its shareholders, subject to completion of due diligence.
Recently listed online beauty products retailer The Hut Group gained 2.2% to 681.48p, having upgraded its annual revenue guidance after its third-quarter sales jumped 39%.
The Hut Group lifted its annual revenue forecast to between around £1.48 billion and £1.52 billion, up from its previous target of around £1.43 billion.
Advertising group WPP dipped 0.1% to 664.6p on news that it had appointed Ya-Qin Zhang as a non-executive director.
Zhang was president of Chinese internet giant Baidu between 2014 and 2019 and had also held executive positions at Microsoft.
Student accommodation group Unite fell 0.6% to 881p after it appointed Richard Huntingford as its new chairman, to replace Phil White at the start of April.
Huntingford was also currently chairman of specialist media platform Future, which shed 1% to £20.05.
Molecular diagnostics group Yourgene Health slumped 7.2% to 18.1p on announcing that its first-half revenue had risen 5%, as strong growth in the UK and Europe was offset by weakness in the company's international business.
Cancer treatment developer Advanced Oncotherapy dropped 10.1% to 33.25p after it launched £7.7 million equity raising, at 30p a share.
Financial services group WH Ireland added 10.3% to 40.8p as it swung to a modest first-half profit, its first half-yearly profit in five years.
Flooring retailer United Carpets gained 23.1% to 4p even as its revenue showed signs of recovery since it reopened its 56 stores on 22 May.
Like-for-like sales for the 19 weeks to 1 October had risen 24%, meaning the United Carpets had recovered much of the ground lost during the UK's national lockdown.
Story provided by StockMarketWire.com
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