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Virus, inflation woes send FTSE 100 to two-month low



© Reuters. FILE PHOTO: People walk past the London Stock Exchange Group offices in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File photo

(Reuters) – The fell to a two-month low on Monday on concerns that a spike in coronavirus infections could derail a nascent economic recovery, while a recent surge in inflation raised fears of a quicker tapering in global monetary stimulus.

The blue-chip FTSE 100 was down 1.4% by 0709 GMT, with BP (LON:) and Royal Dutch Shell (LON:) tracking a slide in oil prices.

Mining and financial stocks were also among the biggest decliners. No single FTSE 100 stock posted gains in early trading.

The mid-cap tumbled 1.1% as Prime Minister Boris Johnson lifted most restrictions in England in what some have dubbed “Freedom Day” despite a new wave of COVID-19 cases.

Travel-related stocks sank for the fifth time in six days as the surge in infections raised the spectre of new travel curbs.

British Airways-owner IAG (LON:) and InterContinental Hotels fell more than 2.5% to the bottom of the FTSE 100.

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