MARKET REPORT

AN unlikely combination of coronavirus concerns and frenzied share dealing in US retailer GameStop unsettled markets.

European stocks had their worst weekly performance since October amid the slow rollout of Covid-19 vaccines. Despite the faster roll-out here, the FTSE 100 still closed down 118.69 points, or 1.82 per cent, at 6407.46.

Aircraft engine maker RollsRoyce was the biggest faller, down 5.4 per cent at 91.7p.Among big risers was Pearson, the educational publisher – up nearly 1.6 per cent at 812.6p – boosted by demand for its products for home schooling.

Meanwhile, the GameStop case, in which retail investors bet against hedge funds gambling on its share price falling, led to volatility.

Shares in the US bricks and mortar video games retailer surged again yesterday. But watchdogs in the US and UK said they were monitoring activity.