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London stocks slide as Trump threatens China

Published 01/05/2020, 08:18
Updated 01/05/2020, 08:24
© Reuters.
UK100
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FTMC
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ICAG
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
* FTSE 100 down 2.2%, FTSE 250 off 1.3%

May 1 (Reuters) - London-listed stocks fell on Friday as
data showed the UK housing market was grinding to a halt, with
sentiment also dented by U.S. President Donald Trump's threat to
impose new tariffs on China over the coronavirus crisis.
The FTSE 100 .FTSE was down 2.2% at 0706 GMT, wiping out
much of the strong gains it had seen this week on signs of
several countries easing lockdown measures.
The domestically focussed mid-cap index .FTMC fell 1.3%,
as Trump said late on Thursday his hard-fought trade deal with
China was now of secondary importance to the pandemic, with his
administration crafting retaliatory measures over the outbreak.
British Airways operator IAG ICAG.L shed another 2.6% as
details of its plans to cut staffing, including a quarter of its
pilots, and weather the collapse in air travel under the
coronavirus continued to seep out. Overall trading volumes were thin as many markets elsewhere
in Europe were closed for a May 1 public holiday.

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