June 11, 2020 / 7:28 AM / 2 months ago

London stocks open lower on fears of second wave of infections, Fed outlook

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* FTSE 100 falls 2.7%, FTSE 250 down 2.8%

June 11 (Reuters) - London stocks opened lower on Thursday as fears of a second wave of COVID-19 infections in the United States and a gloomy outlook by the Federal Reserve trumped optimism around a global economic revival.

Total cases of the novel coronavirus in the United States cases surpassed 2 million on Wednesday, according to a Reuters tally.

The Fed projected the U.S. economy to shrink 6.5% in 2020 and signalled it plans years of extraordinary support for an economy facing a long road back from the COVID-19 pandemic.

The blue-chip FTSE 100 index slipped 2.7%, with oil & gas stocks leading declines with a 4.1% tumble.

Most cyclical stocks traded lower at the opening bell, while defensive healthcare stocks inched higher.

The British mid-cap index fell 2.8%. (Reporting by Shreyashi Sanyal in Bengaluru; editing by Uttaresh.V)

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