UK shares edge lower on Omicron fears, downbeat GDP data

22 Dec, 2021

UK's FTSE 100 inched lower on Wednesday on mounting concerns over the impact of the Omicron coronavirus variant on economic recovery and weaker-than-expected quarterly growth data.

The blue-chip FTSE 100 index fell 0.2%, while the domestically focussed mid-cap index was flat by 0810 GMT.

Miners fell 0.8%, with Rio Tinto Plc leading the fall as benchmark Dalian and Singapore iron ore futures fell amid concerns over COVID-19 curbs in China.

Data showed Britain's economy grew slower than expected in the July-September period, before the Omicron variant posed a threat to economic recovery.

Prime Minister Boris Johnson said on Tuesday that he would not be introducing new COVID-19 restrictions in England before Christmas.

Rolls Royce gained 1.1% on plans to invest in methanol technology for climate-friendly shipping.

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