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* BP tumbles on writing off up to $17.5 bln in asset value
* Miners, energy stocks lead declines
* Bunzl jumps on upbeat revenue forecast
* FTSE 100 down 0.7%, FTSE 250 up 0.07%
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June 15 (Reuters) - London's FTSE 100 fell on Monday but
ended well off session lows, and mid-caps cut all their losses
towards the close after a surge in new cases of the novel
coronavirus in Beijing and underwhelming data from China knocked
markets at open.
Leading losses among European peers, the FTSE 100 closed
down 0.7% but recovered from a three-week low hit during the
session.
BP Plc weighed the most on the commodity-heavy index,
sliding 2.2% after saying it would write off up to $17.5 billion
in the value of its assets. A drop in base metal prices also
weighed.
Topping the FTSE 100, business supplies distributor Bunzl
jumped 9.8% after forecasting an increase in revenue
for the first half of the year, while AstraZeneca rose
1%.
The mid-cap FTSE 250 index ended flat as losses in
mining and some consumer stocks were offset by
gains in financials and defensive sectors such as real estate
and utilities.
Concerns of a slower economic recovery rose as Beijing
reinstated curbs after an unexpected spike in cases, and on
downbeat China factory data. In Britain, data showed footprint
in shopping centres fell nearly 82% from a year earlier.
The travel sector, one of the biggest
casualties of the pandemic-driven slump in demand, was off 1.3%.
Low-cost airline easyJet shed 4.6% even as it resumed
flying for the first time since March 30.
UK stock markets last week halted a robust two-month rally
as optimism around easing lockdowns was dulled by a grim
forecast by the U.S. Federal Reserve and a resurgence in
COVID-19 cases.
Investors now await the Bank of England meeting later this
week.
"We expect them to leave the policy rate unchanged at 0.1%
and to add 100 billion of quantitative easing purchases," said
Peder Beck-Friis, portfolio manager, global macro at PIMCO, who
sees negative rates as unlikely.
(Reporting by Sagarika Jaisinghani, Shashank Nayar and Susan
Mathew in Bengaluru; additional reporting by Aaron Saldanha;
editing by Uttaresh.V; editing by Jonathan Oatis)
