Market Report - Close
London stocks finished well below the waterline to round off a week of heavy losses on Friday, as investors remained wary of what news headlines the weekend could bring, amid concern that a coronavirus-fuelled global economic recession might be on the cards.
London stocks were hammered as the epicentre of new Chinese coronavirus cases shifted to the Continent and after the government published its mandate for trade talks with the European Union which did not exclude the possibility of leaving the bloc without a deal having been struck.
Stocks finished on a mixed note on Wednesday, with bargain hunters stepping in even as health officials around the globe sounded the alarm over the near-pandemic status of the ongoing outbreak of the new China coronavirus.
London stocks finished lower again on Tuesday, as investors continued to digest the latest developments around the spreading global outbreak of the Covid-19 strain of coronavirus.
London stocks took a beating on Monday, with the top-flight index down more than 3% as global markets were roiled by growing concerns that the COVID-19 coronavirus might be set to spread into Europe.
Stocks finished the week on a down note following another bout of selling on Wall Street late in the London session after a closely watched survey of economic conditions in the States fell sharply, pointing to a drop in activity for just the second time since the Great Financial Crisis.
London’s benchmark finished just below the waterline after a choppy session on Thursday, as worries about the coronavirus crept in, although there was some good news in the form of stronger-than-expected retail sales figures.
London stocks were firmly in the green on Wednesday as concerns about the coronavirus eased and as investors mulled news that UK inflation hit a six-month high in January.
London stocks fell further into the red on Tuesday, as a revenue warning from tech giant Apple sparked concerns about the impact of the coronavirus outbreak and the pound strengthened.
London stocks finished slightly higher on Monday as investors welcomed signs that Chinese authorities are prepared to boost stimulus measures to support the virus-hit economy.
Not even a dip in sterling was able to offset the drag from RBS's share price drop on the top flight index, but the FTSE 250 fared considerably better, likely in anticipation of fiscal largesse at the next budget on 11 March.
London stocks finished in negative territory on Thursday amid renewed concerns about the coronavirus, and as investors also digested a Cabinet reshuffle.
Stocks in London finished Wednesday’s session above the waterline, with miners pacing the advance as investors took comfort from signs that the coronavirus spread may be slowing.
London stocks rose on Tuesday, boosted by hopes that the outbreak of the new China coronavirus might be slowing further and alongside record highs for the Dow Jones Industrials and S&P 500, together with the benchmark German stockmarket index, the Dax.
London stocks were a little weaker on Monday amid ongoing concerns about the spread of the coronavirus, as the UK declared it a "serious and imminent threat" to the public and health secretary Matt Hancock declared Wuhan and Hubei province in China an "infected area".
London stocks broke a four day winning streakas investors continued to consider the impact of the coronavirus and opted to play it safe heading into the weekend.
London stocks remained off their earlier highs, but were still in the green at the close on Thursday, with sentiment underpinned by China’s plans to cut tariffs on $75bn of US goods.
London stocks finished higher on Wednesday as traders weighed up reports of a breakthrough in developing a vaccine for the new coronavirus against the cold truth that, at least for the moment, there was no known treatment for the potentially fatal illness.
London stocks rallied on Tuesday as BP gained on the back of well-received results, while miners also put in a strong performance.
London stocks started the month of February on the front foot, but only modestly, as sterling tumbled amid worries about a hard Brexit.