LONDON, Jan 27 — UK shares slumped today as the coronavirus spread globally and caused more fear with death tolls more than tripling from last week, while midcap constituent payments group Finablr outperformed.
The FTSE 100 index, which had recovered on Friday after the World Health Organisation issued a measured assessment of the virus, stumbled 1.5 per cent by 0808 GMT, set for its worst daily performance since early December.
The midcaps were 1.1 per cent lower, but Finablr helped contain some losses as it jumped nine per cent after reassuring markets that it had sought clarifications from BRS, an investment vehicle owned by Shetty that pledged over half the company’s stock as security against certain debts.
News that China’s death toll from the coronavirus discovered at the end of last year has risen to 80 spooked investors and dragged an index of leisure and airline stocks down nearly two per cent. The sector is exposed to a slowdown in the travel market because of the outbreak.
Some stock losers include British Airways owner IAG, which dropped five per cent, and China-exposed luxury brand Burberry, down 4.8 per cent. — Reuters
