Coronavirus: Second wave jitters fuel sell-off for FTSE 100 and hit pound | Business News

Coronavirus: Second wave jitters fuel sell-off for FTSE 100 and hit pound | Business News

The FTSE 100 and the pound have come under renewed pressure as investors eye the prospect of tougher coronavirus restrictions returning across the UK and much of Europe.

Market analysts pointed to a string of value negative developments driving the FTSE lower as it plunged by 3% within the first couple of hours of trading on Monday.

It was trading 191 points – or 3.2% lower – at 5817 as companies exposed to any new COVID-19 restrictions including travel firms and housebuilders saw their stocks face a renewed run from risk.

XX

Only five FTSE 100 constituents were in positive territory.

Also among the losers were banks – hit by the publication of a report alleging that a number of global lenders had moved large sums of illicit funds over nearly two decades despite concerns over the money’s origin.

The money laundering claims, which extended to UK-listed HSBC and Standard Chartered, led to falls of more than 3% in their respective share prices.

Another company to take a hit was Rolls-Royce which said on Monday morning it was looking to raise up to £2.5bn to strengthen its balance sheet.

The prospect of a rights issue helped take its shares more than 10% lower.



Source link

No Comments

Post A Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.