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FTSE 100 tumbles as HSBC slips, Apple warns on sales

Published 18/02/2020, 09:19
© Reuters.  FTSE 100 tumbles as HSBC slips, Apple warns on sales
UK100
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FTMC
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FTNMX301010
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(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

* FTSE 100 down 0.9%, FTSE 250 down 0.4%

* HSBC biggest drag on main index

* Apple revenue warning spurs more coronavirus fears

Feb 18 (Reuters) - London's FTSE 100 slid to a two-week low

on Tuesday, weighed down by a 4% drop in financial heavyweight

HSBC as traders sold stocks globally after tech giant Apple

warned of a shortfall in revenue due to the coronavirus

epidemic.

The main index .FTSE shed 0.9% by 0804 GMT, with HSBC

dragging a sub-index of banks .FTNMX8350 almost 2.5% lower

after its annual profit declined and it laid out plans for a a

major strategic overhaul. Global market participants poured money into perceived safe

havens including gold after the signals from Apple, the world's

most valuable technology firm, that sales would be hurt by the

outbreak. The more domestically-focussed FTSE 250 .FTMC also gave up

0.4%.

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