MARKET REPORT

A MIX of healthcare and bank stocks pulled the FTSE 100 lower as it finished the week with a whimper, dipping below last Friday’s close.

and

were the two biggest losers on the exchange.

The hospital builder is in the middle of a share ownership crisis, while shareholders in the bank failed to be impressed by a big jump in pre-tax profits, or distracted by its rebrand.

The top index in London closed the day down 42.9 points, or 0.58%, at 7,409.13.

It comes after a mixed week for the index, with shares rising midweek, but dropping on Thursday and yesterday.

Investors have been keeping a keen eye on the coronavirus outbreak in China, and its spread around the world, to see how it might affect global trade.

“Dealers are still worried about the health emergency in China as the situation isn’t showing any signs of improving,” said David Madden, an analyst at CMC Markets.

“Should the situation in China get severely worse, traders suspect the Beijing authorities would be quick to intervene and assist the markets, hence why selling pressure isn’t too high.”

On the Continent, the French Cac index fell 0.4%, while Germany’s Dax lost less than one hundredth of 1%.

The price of Brent crude, the international standard for oil, rose 1.5% to 57.19 US dollars per barrel.

Shares in Mike Ashley’s Frasers Group – formerly Sports Direct – were totally unmoved by the announcement that it would join peers to lobby the Government on business rates.

The company added its name to a list of 52 retailers calling on the Government to take action on the issue. It said the “transitional relief ” rules, which are intended to help businesses by staggering rates increases, were particularly onerous and demanded a complete overhaul.

added its name to the FTSE’s worst performers as it warned that the impact from the coronavirus outbreak will hit the business for “up to a few months”, making projections for the year ahead tricky. Bosses said the virus could particularly hit their business because China, which first reported the outbreak, is the firm’s fastestgrowing market. Shares closed down 326p to 7,300p.

The biggest risers on the FTSE 100 were up 20p to 778.20p, up 24.8p to 995.80p, up 13.8p to 570.20p, up 7p to

up 318.40p, and 12.4p to 587.80p.