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FTSE slips on poor earnings from AstraZeneca, RBS

Published 14/02/2020, 09:21
© Reuters.  FTSE slips on poor earnings from AstraZeneca, RBS
UK100
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NWG
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AZN
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(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

* FTSE 100 down 0.4%, FTSE 250 up 0.1%

* AstraZeneca drops after profit miss

* Coronavirus spread fuels stimulus hopes

Feb 14 (Reuters) - UK blue-chip shares slipped further on

Friday, weighed down by underwhelming results from AstraZeneca

and RBS, while investors remained unsettled due to concerns over

the impact of the coronavirus on the global economy.

The FTSE 100 index .FTSE was 0.4% lower by 0805 GMT and

was set to end the week with a near 1% fall, but the midcap

bourse .FTMC rose 0.1% as it drew strength from the pound.

As the epidemic in China shows no signs of peaking, global

markets may look to central banks to step in and undertake

stimulus measures. Last week, U.S. Federal Reserve Chair Jerome

Powell had warned that economic impact from the virus in China

could spill over globally.

Among corporate news, AstraZeneca AZN.L dropped nearly 4%,

its steepest one-day fall since July 2017, as its quarterly

earnings failed to match up to market expectations. Royal Bank of Scotland RBS.L fell 3.4% after its new top

boss set out a new strategy that included cutting back the size

of its loss-making investment bank and renaming the company

NatWest.

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