UPDATE 2-UK stocks recover from three-day drop, end lower for the week

Reuters

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    * Homebuilder stocks lead weekly gains
    * FTSE, FTMC mark weekly losses
    * DS Smith underperforms FTSE 100 peers for week

 (Adds graphic, updates to close)
    By Shashank Nayar and Ambar Warrick
    July 10 (Reuters) - British stocks recovered from three
straight sessions of losses on Friday, but still ended the week
lower as a continued spike in global coronavirus cases undercut
risk appetite.
    The blue-chip FTSE 100  .FTSE  closed about 0.8% higher for
the day, propped up by a rebound in heavyweight financial
stocks. For the week, it lost about 1%.
    The mid-cap FTSE 250  .FTMC  closed up 1.2%, while shedding
0.7% over the week.
    A stimulus-led rally in UK stock markets slowed this month
with economic data still signalling only a tentative revival in
business activity, while a rising global infection count
threatens to quash the recovery with new lockdown measures.
    Data on Friday showed British shoppers returned to the high
street in June, but overall numbers were much lower than normal
for the time of year.  urn:newsml:reuters.com:*:nL4N2EG3F0
    Homebuilding stocks such as Persimmon  PSN.L  and Barratt
Development  BDEV.L  were among the best performers for the week
after new stimulus measures from the government looked to
greatly benefit the sector, which is expected to recover later
in the year. 
    
    
    "While we expect government policy to stay supportive to
cushion the blow from the COVID-19-induced economic slowdown,
this is not a game-changing fiscal package," UBS analysts wrote
in a note.
     "The savings and pent-up demand of the past three months
will likely provide a larger economic boost, supporting select
pockets of value such as UK stocks."
    Cardboard packaging maker DS Smith  SMDS.L  underperformed
its bluechip peers for the week, bogged down by a string of
price target cuts after it disappointed on dividend payments
last week.  urn:newsml:reuters.com:*:nL4N2E91HJ
    International Consolidated Airlines Group  ICAG.L  was also
one of the worst weekly performers, as rising virus cases
continued to weigh on travel stocks.
    Brexit concerns have also crept into markets, with the
European Union's chief negotiator saying on Thursday
"significant divergences" persisted in talks with Britain on
their new relationship from 2021.  urn:newsml:reuters.com:*:nL8N2EG4LB

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Weekly winners and losers on the FTSE 100    https://tmsnrt.rs/3iSxxts
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 (Reporting by Shashank Nayar in Bengaluru; additional reporting
by Sagarika Jaisinghani; Editing by Uttaresh.V and Shounak
Dasgupta)
 ((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6182 2256;))
 
((For related prices, Reuters users may click on - * 
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 Gilt futures:        0#FLG:          Smallcap index:     .FTSC  
 FTSE 250 index:      .FTMC           FTSE 350 index:     .FTLC  
 Market digest:       .AD.L           Top 10 by vol:      .AV.L  
 Top price gainers:   .NG.L           Top % gainers:      .PG.L  
 Top price losers:    .NL.L           Top % losers:       .PL.L  
 
 
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 UK hot stocks:       HOT  and  GB      Wall Street:           .N 
 Gilts report:        GB/             Euro bond report  GVD/EUR 
 Pan European stock report:  .EU 
 Tokyo stocks:        .T              HK stocks:            .HK 
 Sterling report:     GBP/            Dollar report:       USD/ 
 
 
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 European Equities speed guide................  EUR/EQUITY  
 FTSE Eurotop 300 index...........................  .FTEU3  
 DJ STOXX index...................................  .STOXX  
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 Top 10 EUROSTOXX sectors...................  .PGL.STOXXES  
 Top 10 Eurotop 300 sectors..................  .PGL.FTEU3S  
 Top 25 European pct gainers....................  .PG.PEUR  
 Top 25 European pct losers.....................  .PL.PEUR ))

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