The blue-chip FTSE 100 fell 1.9 per cent, while the domestically focused mid-cap index shed 1.3 per cent. — Reuters pic
LONDON, Feb 27 — UK shares took another beating today, 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 fell 1.9 per cent, while the domestically focused mid-cap index shed 1.3 per cent.
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 fell 1.5 per cent 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 slipped three per cent in ex-dividend trading.
In a bright spot, world No. 2 tobacco maker British American Tobacco rose 1.2 per cent as it reported upbeat annual revenue, aided by relatively strong results in its traditional tobacco business and new segments. — Reuters