All markets Market red why Ncyt blue??? Join the dot25 Feb 2020 13:42
Investors will flee the markets to buy ncyt as a hedge. Revisit this post with share Thursday at the latest. IIs baying 2 millions over last days. Plus why the everything is red over the last 2 days while nyct blue for as many days. Join the dot and join the dosh.
Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - London stocks had slipped below the waterline by midday on Tuesday, as investors continued to digest the latest developments around the spreading global outbreak of the Covid-19 strain of coronavirus.
At midday, the FTSE 100 was down 0.71% at 7,106.23, and the FTSE 250 was off 0.62% at 20,986.90.
Sterling remained stronger against its two major pairs, last rising 0.3% against the dollar to $1.2963 and 0.5% on the euro to €1.1966.
The FTSE 100 had opened marginally higher on Tuesday, after suffering its worst single-day points loss since August 2015 on Monday, as investors rushed to safety amid the outbreak.
Market participants were looking past the slowing rate of infection in China, as well as the relaxation of travel restrictions in places such as Beijing, and focusing on the rapidly-growing number of infections in countries including Italy and South Korea.
By Tuesday morning, seven people had died and more than 220 people were confirmed to be infected in Italy, as authorities there placed a number of localities on lockdown.
"That is not to downplay the seriousness of the coronavirus outbreak, given how little we know about it, but it could be argued that the reaction of governments to the outbreak in closing borders and restricting movement is actually making things worse, as well as sowing confusion and fear amongst their populations," suggested CMC Markets' chief market analyst Michael Hewson.
"For now, there appears little prospect that financial markets look likely to settle down in the short term, which means investors will have to get used to an extended period of uncertainty and volatility."
Sign In
Follow the stocks
