London stocks falls as UK GDP slumps a record 9.9% in 2020

FILE PHOTO: A broker looks at financial information on computer screens on the IG Index the trading floor in London, Britain February 6, 2018. REUTERS/Simon Dawson/File Photo

(Reuters) – London’s main stock indexes fell on Friday, as data showed the UK economy shrank by a record 9.9% last year due to nationwide shutdowns that were imposed to curb the spread of COVID-19.

Data on Friday also showed Britan’s GDP grew 1.0% between October and December, avoiding heading back towards recession at the end of the year.

The blue-chip FTSE 100 index was down 0.2% at 0811 GMT, with mining and financial stocks leading declines. The mid-cap index fell 0.1%.

In company news, holiday company Jet2 fell 5.4% as it raised 422 million pounds ($582 million) through a new share issue, equivalent to 20% of its share capital prior to the fund raising.

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