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FTSE 100 tracks global mood lower as retail sales sink

Published 04/24/2020, 03:16 PM
Updated 04/24/2020, 03:20 PM
UK100
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GILD
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FTMC
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LOOK
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* FTSE 100 down 1.3%, FTSE 250 drops 0.9%

April 24 (Reuters) - London's FTSE 100 dived along with
European and Asian stock markets on Friday as data laid bare the
scale of the collapse in UK retail sales in March and initial
test results dealt a blow to hopes for one possible coronavirus
treatment.
The blue-chip FTSE 100 index .FTSE fell 1.3%, while the
domestically focused FTSE 250 index .FTMC lost 0.9%. Both the
indexes are on track to log their second straight session of
weekly losses after a plunge in oil prices earlier this week
rattled markets.
Official figures on Friday showed UK retail sales fell by
the most on record in March, as government imposed
coronavirus-shutdowns closed thousands of businesses and the
vast majority of shops. Markets globally were hit by a report that Gilead Sciences
Inc's GILD.O experimental drug remdesivir failed to help
patients with severe COVID-19 in a Chinese trial, although the
drugmaker said the findings were inconclusive because the study
was terminated early. Among the losers, car dealerships Lookers LOOK.L dropped
8.7% as it flagged a 4 million pound charge in 2019, after an
initial investigation found misstatement in debtor balances and
"a number" of fraudulent expenses claims at one of its
divisions.

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