FTSE 250 movers: Wizz Air and PPHE Hotels hammered, Aston Martin hits 52-week low
Shares on the second tier index were roiled at the start of the week, with travel and commodity issues hammered, sending the second tier index 3.15% lower as of 21,093.44, although precious metals miners and a handful of assorted other stocks were holding their head above water.
Over the weekend, the number of coronavirus cases in Italy had continued to grow, rising to 219 with eight fatalities recorded thus far.
So amid 'market chatter' of a possible contraction in Chinese and Italian gross domestic product in the first quarter as the virus hit their economies, traders moved to price-in some of the additional downside risks to stocks.
Wizz Air Holdings was at the bottom of the pile, alongside PPHE Hotels Group, with investors bailing out as the entire sector nosedived, with the Stoxx 600 Travel & Leisure sector gauge 5.76% under water amid a spike in volatility.
Also heavily impacted were shares of Cineworld, in anticipation of lower ticket sales at cinemas.
Vietnam Enterprise Investments was also pummeled as investors tried to limit their exposure to that region.
Among commodity stocks, Tullow Oil and Premier Oil were seeing the steepest falls, tracking a more than 4% drop in Brent crude oil futures.
Amid the feverished selling, Aston Martin hit a new 52-week low.
Ascential was one of the few gainers, alongside Finablr, which appeared to win a reprieve from markets, as sellers shifted their aim.
Precious metals miners Fresnillo and Hochschild Mining also headed higher, alongside a 1.64% gain in April gold futures on COMEX to $1,674.40/oz.. as investors sought out safe havens.
FTSE 250 - Risers
Ascential (ASCL) 364.40p 2.94%
Finablr (FIN) 72.95p 2.75%
Fresnillo (FRES) 724.80p 1.77%
PureTech Health (PRTC) 329.00p 0.92%
Hochschild Mining (HOC) 202.80p 0.90%
NextEnergy Solar Fund Limited Red (NESF) 117.50p 0.86%
Sophos Group (SOPH) 573.40p 0.56%
Watches of Switzerland Group (WOSG) 374.80p 0.16%
Daejan Holdings (DJAN) 8,020.00p 0.00%
EI Group (EIG) 284.60p 0.00%
FTSE 250 - Fallers
Wizz Air Holdings (WIZZ) 3,865.00p -12.30%
PPHE Hotel Group Ltd (PPH) 1,900.00p -10.38%
Tullow Oil (TLW) 36.66p -9.64%
Kaz Minerals (KAZ) 451.90p -8.41%
Premier Oil (PMO) 94.58p -7.86%
Ferrexpo (FXPO) 144.90p -7.29%
SSP Group (SSPG) 622.00p -6.61%
Vesuvius (VSVS) 413.20p -6.60%
Cineworld Group (CINE) 170.10p -6.38%
Vietnam Enterprise Investments (DI) (VEIL) 418.00p -6.28%