January 21, 2020 / 8:23 AM / a month ago

FTSE 100 tumbles 1% as China virus scare hits stocks

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

* FTSE 100 down 1%, FTSE 250 down 0.8%

* Spread of new SARS-like virus rattles markets

* UK jobs data eyed

* easyJet outperforms main index

Jan 21 (Reuters) - London’s FTSE 100 skidded to a near two-week low on Tuesday, with global markets rattled by the spread of a new coronavirus in China, while traders eyed jobs data which could dictate whether the Bank of England will cut interest rates this month.

China reported a fourth death from the virus, which is being likened to the deadly 2002/2003 spread of Severe Acute Respiratory Syndrome (SARS), just ahead of the Chinese Lunar New Year holiday.

The FTSE 100 shed 1%, as Asia-exposed Burberry led losses with a 3.3% slide while financial stocks were also hit by Swiss bank UBS cutting its mid-term targets. The FTSE 250 gave up 0.8%.

However, low-cost airline easyJet outshone the blue-chip bourse with a 2% rise after it forecast improvement in its first-half winter performance. (Reporting by Shashwat Awasthi in Bengaluru; Editing by Shailesh Kuber)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below