|Day's range||7,461.66 - 7,585.98|
|52-week range||6,734.00 - 7,727.50|
The FTSE 100 index , which had recovered on Friday after the World Health Organisation issued a measured assessment of the virus, stumbled 1.5% by 0808 GMT, set for its worst daily performance since early December. 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 2%.
Investors are too worried about a possible no-deal Brexit and are in danger of missing out on overlooked UK stocks, according to prominent hedge fund managers betting on a UK resurgence. “Our conviction in the UK opportunity is very high,” Lansdowne Partners duo Peter Davies and Jonathon Regis wrote in a letter to investors. The pair manage the Lansdowne Developed Markets Fund, one of Europe’s biggest hedge funds.
It’s a big week ahead. Britain leaves the EU, Trump’s defense team is in action, corporate earnings are in focus, and the FED and the BoE are in action.
Health care companies led a broad slide in U.S. stocks Friday as increased fears over the spread of a deadly outbreak of coronavirus rattled markets. The S&P 500 had its worst day since early October and snapped a two-week winning streak. “It really is a reaction to the widening nature of what's going on with the coronavirus,” said Lisa Erickson, head of traditional investments at U.S. Bank Wealth Management.
On Thursday, ECB President Christine Lagarde told a news conference that risks to growth in the Euro Zone remained tilted to the downside.
The FTSE 100 ended a four-day losing streak to rise 1%, but worries over the spread of the virus have spoiled risk appetite in the past few days and dragged the index to its worst weekly performance in nearly two months. The FTSE 250 also firmed 1%, getting a further boost as early readings of the IHS Markit/CIPS UK Purchasing Managers' Index (PMI) showed Britain's vast services sector returned to growth in January for the first time since August. Global headlines were dominated by the new coronavirus which has killed 26 people and infected more than 800 so far.
Finablr, the financial services group that owns Travelex, shed more than a quarter of its value on Friday after it emerged that more than half of its stock had been used by majority owner and billionaire BR Shetty as security against debt from buying the British currency platform in 2015. India-born Mr Shetty is one of the region’s best-known billionaires. In 1980, he set up UAE Exchange, a remittance business, which expanded in tandem with the growing expatriate population working in the oil-rich federation.
Shares were mostly higher in quiet trading on Friday in Asia as China began a week-long Lunar New Year festival that is being overshadowed by the outbreak of a new virus that has killed 25 people and sickened more than 800. Markets were closed in Shanghai and the rest of mainland China, South Korea, Malaysia and Taiwan.
The FTSE 100 gave up 0.9%, marking its steepest one-day drop in nearly two months and set for its worst weekly performance since early October. Losses came after China put Wuhan, the city at the centre of the outbreak, on lockdown as health authorities around the world scramble to prevent a global pandemic. The new coronavirus has so far killed 17 and infected nearly 600 people.
Asian shares were mostly higher Thursday as health authorities around the world moved to monitor and contain a deadly virus outbreak in China and keep it from spreading globally. China and other nations have ramped up screenings for fever on aircraft and at airports in measures that appeared to reassure investors. Japan's Nikkei 225 index rose 0.7% to 24,031.35 while the Kospi in South Korea surged 1.2% to 2,267.25.
Global markets rebound after virus-related fears subside. Risk is still present so traders should be cautious with equity markets trading at all-time highs.
Speaking generally, it tends to be the case that when investors get wind of something non public that might be beneficial to the share price, such as takeover interest, they’ll want to see it publicised. In our view, Quilter would be a good candidate for Private Equity, rather than public market, ownership at the present time, given the extensive ongoing restructuring and platform transformation project.
London-focused housebuilder Berkeley Group plans to almost double its capital return to shareholders to £1bn over the next two years in a sign that last year’s general election has returned confidence to the sector. The FTSE 100 group did not explicitly mention Brexit or the recent Conservative victory in its update on Wednesday but hinted that greater political certainty was a factor in the increase of £455m on top of the existing dividend and share buyback programme. “Since 2016 [when the UK voted to leave the EU] like all responsible businesses, Berkeley has been mindful of the volatile operating environment and has been cautious in its investment,” the housebuilder said.
The FTSE 250 added 0.1%, buoyed by a stronger local currency. The pound scaling a five-week high against the euro came as bets of a cut to the UK interest rate declined after the Confederation of British Industry reported a pick-up in manufacturers' sentiment. A standout faller was TUI , whose London-listed shares slipped nearly 6% to their lowest since September after Boeing warned of further delay in returning its grounded 737 MAX airliner to service.
Shares mostly rose in early Asian trading on Wednesday after a slide in U.S. stocks overnight as a virus outbreak in China rattled global markets. Japan's Nikkei 225 index climbed 0.6% to 24,013.15 and the Kospi in South Korea surged 0.8% to 2,256.95. There was little regional news apart from the virus to drive trading, though South Korea reported better than expected economic growth in the last quarter of 2019.
Europe's leading stock markets slumped at the start of trading on Tuesday after sharp losses across Asia. London's benchmark FTSE 100 index slid 0.8 percent to 7,591.93 points compared with the close on ...