FTSE falls as traders keep eye on virus

The FTSE 100 was the biggest loser among some of the world’s main markets, as a surging pound weighed on the index.

London’s top flight index closed the day down 19.06 points, or 0.27%, to 7,448.88.

It fell slightly faster than France’s Cac, which only just held above 6,000 points, 0.27% down, and the Dax in Germany, which fell 0.24%.

It came as the pound regained some of its losses against the dollar, after hitting a two-month low last Friday. It rose 0.18% to 1.2915 against the greenback. Against the euro the currency gained 0.49% to 1.1836.

A rise in the value of sterling often puts downward pressure on the FTSE 100, which is heavily weighted towards exporters.

However, currency traders will now have their eyes on official statistics, due out this morning said Connor Campbell, an analyst at Spreadex.

Stock traders are still firmly looking at coronavirus, as Apple dropped 1% in New York, after reports that smartphone sales are expected to drop significantly because of the outbreak.

The price of oil fell 1.54% to 53.6 US dollars per barrel.

The biggest risers on the FTSE 100 were NMC Healthcare, up 226.2p to 926.2p, Barratt Developments, up 24.4p to 823.8p, Compass Group, up 39p to 1,990p, British Land, up 10.8p to 570p, and Hargreaves Lansdown, up 30p to 1,634.5p.

The biggest fallers on the FTSE 100 were Centrica, down 2.46p to 82.68p, Carnival, down 70p to 3,044p, Evraz, down 8.3p to 389.2p, Vodafone, down 3.04p to 150p, and Just Eat Takeaway, down 135p to 7,605p.