UK shares are falling as recovery concerns hit bank stock, energy

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* FTSE 100 down 0.6%, FTSE 250 down 0.3%

March 23 (Reuters) – British shares fell on Tuesday, slowed by energy and bank stocks, as new locks and slow vaccine spreads across Europe sparked fears over the pace of economic recovery, while soaring. Cineworld following plans to reopen its theaters.

The FTSE 100 heavy goods index was down 0.6%, with BP heavy oil and Royal Dutch Shell being the top concerns on the index.

Bank stocks, including HSBC Holdings, Barclays Plc, and Lloyds Banking Group, were also among the biggest laggards, falling between 0.7% and 1.1%.

Britain’s unemployment rate fell sharply to 5.0% in the three months to January, when the country entered a new COVID-19 lock, official figures showed, missing projections of a rise to 5.2% in the Reuters poll.

The FTSE 250 mid-cap index with a domestic focus fell 0.3%, hit by a loss in business stocks.

AstraZeneca Plc fell 1.0%, after the U.S. health agency said the drug dealer may have provided an incomplete view of efficacy data on the COVID-19 vaccine from a major U.S. test.

Getting rid of the wider sentiment, Cineworld rose 4.4% after announcing it would open US theaters in April and UK halls a month later, in time for budget films big show featuring “Godzilla Vs. Kong ”, after the long-awaited closure of the COVID-19 emergency.

Reporting by Shivani Kumaresan in Bengaluru; Edited by Rashmi Aich