London stocks muted after Omicron warning

UK's main stock indexes were flat on Monday following a warning that the Omicron variant was spreading at a 'phenomenal rate' in Britain, adding to a cautious market mood ahead of an interest rate decision later this week.

UK's main stock indexes were flat on Monday following a warning that the Omicron variant was spreading at a 'phenomenal rate' in Britain, adding to a cautious market mood ahead of an interest rate decision later this week. The blue-chip FTSE 100 and the domestically focussed mid-cap index were unchanged, as of 0810 GMT.

Britain faces a "tidal wave" of the Omicron coronavirus variant and two vaccine doses will not be enough to contain it, Prime Minister Boris Johnson warned on Sunday. Wizz Air fell 1% after HSBC downgraded the stock to "reduce". Airlines have called for UK support after Omicron dented recovery hopes, according to a report.

Base metal miners rose 1.7% as copper prices edged higher after top consumer China pledged to focus on economic stability, bolstering demand outlook for the metal. Purplebricks Group slumped 13.9% after the estate agent said it would delay its interim results and warned of a potential financial risk as it found problems with communications with tenants about deposit registrations.