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London stocks retreat as U.S.-China coronavirus spat grows

Published 04/05/2020, 08:12
Updated 04/05/2020, 08:18
London stocks retreat as U.S.-China coronavirus spat grows
UK100
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RR
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FTMC
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(For a live blog on European stocks, type LIVE/ in an Eikon
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* FTSE 100 down 0.7%, FTSE 250 off 1.7%

May 4 (Reuters) - UK stock markets dipped on Monday as
U.S.-China tensions flared up again over the origin of the
coronavirus, while Rolls Royce tumbled on reports it was
considering job cuts to ride out an economic slump.
The British aero-engine maker RR.L fell 4.2% to the bottom
of the FTSE 100 after a source told Reuters it was mulling
cutting up to 15% of its workforce as customers cut production
and airlines parked planes due to a halt in global travel.
The blue-chip FTSE 100 .FTSE was down 0.7%, deepening a
2.3% slide on Friday, when U.S. President Donald Trump pinned
the blame for the pandemic on China and threatened new tariffs.
U.S. Secretary of State Mike Pompeo compounded those fears
on Sunday by saying there was "a significant amount of evidence"
the virus emerged from a laboratory in the central Chinese city
of Wuhan. An editorial in China's Global Times said he was
"bluffing". European stock markets, several of which were closed for a
May 1 holiday on Friday, tumbled as much as 3% in early trading
on Monday. .EU
The domestically focussed mid-cap index .FTMC was down
1.7% at 0705 GMT.

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