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    AV.   GB0002162385


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UK shares slide as inflation, Omicron risks grow

12/02/2021 | 11:59am EST
omeFILE PHOTO: A man shelters under an umbrella as he walks past the London Stock Exchange

(Reuters) - UK shares fell on Thursday as fears around the Omicron coronavirus variant grew with several countries reporting cases, while warnings about inflation from major central banks added to the downbeat mood.

The benchmark FTSE 100 index ended 0.6% lower, while the domestically focussed mid-cap index fell 0.9%.

Bank of England (BoE) Governor Andrew Bailey said on Wednesday the economic impact from COVID-19 remained strong, while noting inflationary pressure from supply chain difficulties and increased demand for consumer goods.

Banks slipped amid uncertainty about whether the BoE will hike interest rates this month. [BOEWATCH]

"Raising interest rates at a time when the economy is expected to slow and see restrictions, maybe potentially even lockdowns, is just going to compound the economic pain," said Oanda analyst Craig Erlam.

"What we're seeing with financials is a reflection of the fact that it (Omicron) makes the central bank's job of tightening monetary policy a bit more challenging."

Prime Minister Boris Johnson issued a "call to get jabs in arms" on Wednesday as Britain stepped up its COVID-19 booster programme to fend off the Omicron variant after another 10 cases of the new strain were identified, bringing the total to 32.

Postal and delivery firm Royal Mail fell 4.6% and was among the worst performers on the blue-chip FTSE 100 as it traded ex-dividend.

Johnson Matthey and Darktrace dropped 2.2% and 8.7% respectively after index manager FTSE Russell confirmed the companies were set to leave the FTSE 100.

Halfords Group rose 6.5% after saying it would buy Axle Group for 62 million pounds ($83 million) as the cycle retailer shifts focus to its motoring services business.

Title: UK Shares remain volatile on Omicron news, https://tmsnrt.rs/3xJCblH

(Reporting by Bansari Mayur Kamdar and Amal S in Bengaluru; Editing by Uttaresh.V and Mark Potter)

By Bansari Mayur Kamdar

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AVIVA PLC -2.16% 430.7 Delayed Quote.5.26%
HALFORDS GROUP PLC -1.56% 340 Delayed Quote.-1.56%
JOHNSON MATTHEY PLC -1.79% 1980 Delayed Quote.-3.23%
NATIONAL GRID PLC -1.15% 1079.6 Delayed Quote.2.26%
ROYAL MAIL PLC -2.53% 461.7 Delayed Quote.-8.75%
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Analyst Recommendations on AVIVA PLC
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Sales 2021 46 647 M 63 215 M 63 215 M
Net income 2021 1 961 M 2 658 M 2 658 M
Net cash 2021 8 664 M 11 741 M 11 741 M
P/E ratio 2021 8,30x
Yield 2021 5,17%
Capitalization 16 233 M 22 011 M 21 999 M
EV / Sales 2021 0,16x
EV / Sales 2022 0,15x
Nbr of Employees 28 596
Free-Float -
Duration : Period :
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Technical analysis trends AVIVA PLC
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Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 432,00 GBX
Average target price 469,71 GBX
Spread / Average Target 8,73%
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Managers and Directors
Amanda Blanc Chief Executive Officer & Executive Director
Jason Michael Windsor Strategy, Mergers & Acquisitions Director
Mark George Culmer Non-Executive Chairman
John Cummings Chief Information Officer
Nitinbhai Babubhai Maganbhai Amin Chief Operating Officer
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