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London stocks slide further as virus risks spread

Published 02/27/2020, 04:16 PM
Updated 02/27/2020, 04:24 PM
London stocks slide further as virus risks spread
UK100
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BATS
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HSBA
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STAN
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FTMC
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 down 1.9%, FTSE 250 slides 1.3%
* StanChart slips after warning on virus hit
* Tobacco firm BATS gains on strong results

Feb 27 (Reuters) - UK shares took another beating on
Thursday, as a sharp rise in the number of coronavirus cases
outside China raised fears of a global pandemic, sending
investors scrambling to perceived safe-haven assets.
The blue-chip FTSE 100 .FTSE fell 1.9%, while the
domestically focussed mid-cap index .FTMC shed 1.3%.
London's main index has now fallen five of the past six
sessions as the spread of the deadly virus deepens in Europe.
Italy has emerged as the epicentre of the outbreak on the
continent, while Germany has said it is already impossible to
trace all chains of infection. Standard Chartered STAN.L fell 1.5% after warning that a
key earnings target would take longer to meet as the epidemic
added to headwinds in its main markets of China and Hong Kong.
Rival HSBC HSBA.L slipped 3% in ex-dividend trading.
In a bright spot, world No.2 tobacco maker British American
Tobacco BATS.L rose 1.2% as it reported upbeat annual revenue,
aided by relatively strong results in its traditional tobacco
business and new segments.

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