LONDON, May 1 — London-listed stocks fell today as data showed the UK housing market was grinding to a halt, with sentiment also dented by US President Donald Trump’s threat to impose new tariffs on China over the coronavirus crisis.
The FTSE 100 was down 2.2 per cent at 0706 GMT, wiping out much of the strong gains it had seen this week on signs of several countries easing lockdown measures.
The domestically focussed mid-cap index fell 1.3 per cent, as Trump said late yesterday his hard-fought trade deal with China was now of secondary importance to the pandemic, with his administration crafting retaliatory measures over the outbreak.
British Airways operator IAG shed another 2.6 per cent as details of its plans to cut staffing, including a quarter of its pilots, and weather the collapse in air travel under the coronavirus continued to seep out.
Overall trading volumes were thin as many markets elsewhere in Europe were closed for a May 1 public holiday. — Reuters