Londons FTSE 100 fell on Friday after a fourday rally as concerns over surging coronavirus cases and Brexitrelated uncertainty weighed, while investors awaited the outcome of a close U.S. presidential election race.
Having risen almost 0.5 in early trading, the bluechip FTSE 100 index was down 0.8 as pharmaceutical , retailer and industrial stocks declined.
The domesticallyfocussed midcap FTSE 250 index edged 0.4 lower, with shares in James Fisher and Sons tumbling 19.4 after a disappointing trading update.
U.S. Democrat Joe Biden gained more ground on President Donald Trump in the battleground states of Georgia and Pennsylvania, hours after Trump falsely claimed the election was being stolen from him.
Today its just awareness that the election still isnt over especially with Trumps speech last night, said Connor Campbell, a Londonbased analyst for Spreadex.
Despite Fridays losses, the FTSE 100 was set for its best weekly gain since early June as the British government and the Bank of England ramped up stimulus measures to support an economy facing the economic impact of a second nationwide lockdown.
Britain reported 24,141 new cases of the coronavirus and 378 deaths on Thursday, while Prime Minister Boris Johnson said he hoped Britain could return to some form of normality before Christmas if people stick to the lockdown rules.
Brexit talks were also in focus with the European Union Internal Market Commissioner saying there is a 5050 chance of Britain and the EU…