Energy stocks, stronger pound drag FTSE 100 lower as virus worries remain

Both the indexes are tracking their best week since June 5 after U.S. drugmaker Pfizer Inc said on Monday its COVID-19 vaccine was 90% effective. In company news, Premier Inn owner Whitbread Plc jumped 2.9% to the top of the FTSE 100 index after Barclays upgraded the stock to "overweight".

London's FTSE 100 slipped on Friday as concerns about a jump in COVID-19 infections hit energy stocks and a stronger pound pressured exporters, although the index was still set for its best weekly run since June on hopes of an effective vaccine. The commodity-heavy index fell 0.9%, with energy and bank stocks being among the biggest decliners.

The domestically-focussed mid-cap FTSE 250 index lost 0.6%, even as a media report said finance minister Rishi Sunak was preparing a further multibillion-pound giveaway to spur consumer spending. Both the indexes are tracking their best week since June 5 after U.S. drugmaker Pfizer Inc said on Monday its COVID-19 vaccine was 90% effective.

In company news, Premier Inn owner Whitbread Plc jumped 2.9% to the top of the FTSE 100 index after Barclays upgraded the stock to "overweight".

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