FTSE falls 1.5 per cent as Centrica losses weigh down index
The FTSE 100 fell 1.5 per cent at 7,451.11 this morning as a 15 per cent drop in Centrica shares dragged it down due to hits from a number of one-off impairment charges relating to its oil & gas assets and nuclear power plant stake.
London’s premier index was also hit by falls of over five per cent at NMC Health, which was slapped with a double ratings downgrade by SocGen, and Ocado.
Negative sentiment in the oil market has also forced BP and Shell down over three per cent after the International Energy Agency (IEA) forecast a drop in global oil demand.
Barclays was also amongst the fallers, shedding over three per cent after investigations into chief executive Jes Staley’s links to disgraced financier Jeffrey Epstein were announced.
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The FTSE 250 fell 0.3 per cent after an overnight spike in coronavirus cases slammed the breaks on a worldwide rally, with both the Nikkei and the Hang Seng stalling after 242 new fatalities were recorded in Hubei province on Wednesday.
Small cap Indivior fell 19 per cent as the firm reported a fourth-quarter loss and forecast another drop in sales next year.
Another 14,840 cases were reported in Hubei today, up from 2,015 new cases nationwide a day earlier, after provincial officials started using computerised tomography scans to look for signs of the virus.
European markets were also showing milder losses, with the DAX down half a per cent and the CAC 40 down 0.3 per cent.
All three major US markets closed at record highs, with the Dow reaching 29,551.42. The S&P 500 rose over half a per cent to 3,379.45, while the Nasdaq climbed nearly one per cent to 9,725.96.