UK shares continued their rebound, albeit in subdued trading, after a steep sell...
Both British benchmark indexes have shed more than 2% since last week, when news of the coronavirus flare-up first emerged. Dealers are still mulling over how the outbreak will affect the global economy.“Historically, global markets tend to rebound after such outbreaks, provided that the toll exerted on the global economy is not too damaging,” FXTM said, but warned that a meaningful recovery in equities could be months away.
Traders are also looking ahead to a U.S. Federal Reserve policy meeting, in which the bank is likely to leave interest rates unchanged, but may address future headwinds due to the virus outbreak. “The emergence of the coronavirus in China will warrant a degree of caution in the outlook from the Fed, whilst there is little upward pressure on prices to suggest a shift in the FOMC’s stance,” Markets.com analyst Neil Wilson said.
McCarthy & Stone Plc slid 5% as its biggest shareholder plans to slash its stake in the midcap retirement homebuilder. Small-cap Pendragon Plc lost 4.5% after the car dealership chain warned annual profit would be around the bottom end of its expectations.Our Standards:
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