Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Markets

News : Markets
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 

FTSE 100 marks worst day since 2015 on virus pandemic fears

share with twitter share with LinkedIn share with facebook
share via e-mail
02/24/2020 | 12:06pm EDT
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain

London's FTSE 100 recorded its worst one-day performance in more than four-and-a-half years on Monday, in a fall that wiped $65 billion off companies' market value, as a jump in coronavirus cases outside China set off fears of a pandemic.

The FTSE 100 fell 3.3%, tracking declines across the world, as sharp rises in new cases in Iran, Italy and South Korea raised concerns about a bigger hit to the world economy than previously feared.

The midcap bourse suffered a 3% drop, tumbling to levels last seen in December.

Losses in Britain were broad based, with miners <.FTNMX1770> shedding nearly 6% on their worst day in nearly four years. EasyJet and British Airways-owner IAG led the wider travel and leisure sector <.FTNMX5750> down 5.3%.

"The coronavirus outbreak has altered market dynamics since late January," BlackRock analysts wrote in their weekly note.

"The spread of the virus ? and the containment measures imposed by the Chinese authorities ? have triggered global supply chain disruptions and a hit to global growth, making such global firms vulnerable."

Italian stocks plunged roughly 5.5%, after the country reported its fourth death from the virus and a jump in infections. Outside mainland China, the outbreak has spread to about 29 countries and territories, according to a Reuters tally. In England, four passengers evacuated from a cruise ship have tested positive for the virus.

Travel, tourism and luxury stocks have been among the worst hit as efforts to contain the deadly virus have led to travel restrictions to China.

Monday's dramatic fall left the FTSE 100 5.1% lower for the year.

Other news-driven moves dragged AB Foods down by 1.5%, after a warning that there was a risk of supply shortages on some lines if delays in factory production in China were prolonged due to the coronavirus outbreak.

In the more domestically focused midcap index, some of the biggest decliners were Wizz Air, Tullow Oil and Kaz Minerals.

In a bright spot, business supplies distributor Bunzl added 3% after posting a higher annual profit, thanks to acquisitions made last year.

Another gainer was precious metals miner Fresnillo, which gained 3.2% after it brought forward the production targets for the Mexican project, Juanicipio.

By Sagarika Jaisinghani and Muvija M

Stocks mentioned in the article
ChangeLast1st jan.
ASSOCIATED BRITISH FOODS PLC 6.79% 1791 Delayed Quote.-35.35%
BLACKROCK, INC. 0.94% 513.3 Delayed Quote.2.11%
BUNZL PLC 1.37% 1843 Delayed Quote.-12.11%
EASYJET PLC 16.04% 645.8 Delayed Quote.-60.87%
FRESNILLO PLC -1.37% 782.8 Delayed Quote.24.02%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, SA 17.90% 226.119 Delayed Quote.-69.47%
KAZ MINERALS PLC 3.10% 460.9 Delayed Quote.-16.00%
LONDON BRENT OIL 1.18% 36.01 Delayed Quote.-45.55%
TULLOW OIL 3.95% 25.052 Delayed Quote.-62.34%
WIZZ AIR HOLDINGS PLC 8.34% 3246 Delayed Quote.-23.03%
WORLD CO., LTD. 4.97% 1393 End-of-day quote.-48.23%
WTI 0.71% 34.081 Delayed Quote.-44.63%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news "Markets"
03:54aWALL STREET STOCK EXCHANGE : U.S. stock futures rise 2% to 3,012 points
RE
03:29aEUROPE : European shares near 11-week high, UK stocks surge
RE
05/25Global Stocks Edge Higher on Optimism Over Economic Reopening
DJ
05/25Global Stocks Edge Higher on Optimism Over Economic Reopening
DJ
05/25Global Stocks Edge Higher on Optimism Over Economic Reopening
DJ
05/25Global Stocks Edge Higher on Optimism Over Economic Reopening
DJ
05/25Global Stocks Edge Higher on Optimism Over Economic Reopening
DJ
05/25Global Stocks Edge Higher on Optimism Over Economic Reopening
DJ
05/25Global Stocks Edge Higher on Optimism Over Economic Reopening
DJ
05/25EUROPE : European shares rise on recovery hopes, Bayer jumps
RE
Latest news "Markets"