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* U.S. health officials warn pandemic likely
* Spirits maker Diageo tumbles after warning on virus impact
* Engineering firm Weir Group tops mid-cap index on results
* FTSE 100 down 2%, FTSE 250 drops 2.3%
(Adds comments, details; updates prices)
Feb 26 (Reuters) - UK shares tumbled for a fifth straight
session on Wednesday, as a U.S. warning to brace for a
coronavirus pandemic raised fears of more global supply chain
problems, with Rio Tinto and Diageo becoming the latest
multi-national firms hit by the outbreak.
The Anglo-Australian miner fell 1.4% after saying it
would see a short-term impact from the epidemic, which has
infected about 80,000 people and killed more than 2,700. The
wider mining sector was down 1.8%.
Diageo, the world's biggest spirits company, tumbled
3% as it said the epidemic could knock up to $260 million off
its profit in 2020.
"When you have the likes of Diageo talking numbers and how
this is going to affect profit and loss, in market terms, the
reality factor is in your face," said Keith Temperton, a trader
at Tavira Securities.
"I don't see that reversing until we see evidence of a peak
in (virus) numbers and that's not going to happen until quite
some time."
London's export-laden FTSE 100 slid 2% to a one-year
low, while the domestically focussed mid-cap index shed
2.3%.
EasyJet, British Airways-owner IAG and
Burberry Group were among the biggest decliners.
The rapid spread of the deadly virus outside China sparked a
sell-off that has erased about $3 trillion from the value of
global stocks in the past four days.
European stock markets lost 2.7% on Wednesday, as the virus
spread to countries including Algeria, Austria, Croatia, Italy,
Romania, Spain and Switzerland.
Late on Tuesday, the U.S. Centers for Disease Control and
Prevention alerted Americans to begin preparing for a likely
pandemic.
Although the disease is believed to have peaked in China,
where it first originated late last year, the resulting hit to
factory output and consumer spending have threatened global
economic growth in 2020.
A recent Reuters poll found that most major economies in
Asia are expected to either slow significantly, halt or shrink
outright in the current quarter.
Frankie & Benny's chain owner Restaurant Group fell
4.8% after saying it would reduce the number of sites in its
leisure business and temporarily suspend its
dividend.
Among the few gainers, engineering firm Weir Group
jumped 7.8% to the top of the mid-cap index after posting a
higher annual profit.
(Reporting by Sagarika Jaisinghani and Devik Jain in Bengaluru;
Editing by Bernard Orr)
