A street cleaning operative walks past the London Stock Exchange Group building in the City of London financial district, whilst British stocks tumble as investors fear that the coronavirus outbreak could stall the global economy, in London, Britain, March 9, 2020.
The exporter-heavy FTSE 100 (.FTSE) fell 0.6% touching a two-week low intraday, while the more domestically-oriented FTSE 250 midcap index (.FTMC) also shed 0.6%.
Personal goods (.FTNMX402040) led declines among the major FTSE 350 sectors, with Burberry Group (BRBY.L) falling 2.7% after HSBC reduced the stock's price target.
Investors will look ahead to UK mortgage data, inflation prints across the eurozone, and a Personal Consumption Expenditures (PCE) report in the U.S. - the Federal Reserve's preferred inflation gauge - later this week.
Man Group (EMG.L) fell 3.2% after Morgan Stanley downgraded the hedge fund manager's stock to "Equal-Weight" from "Overweight".
Persons:
Toby Melville, inflation's, Andrew Jones, Janus Henderson, Dave Ramsden, Jonathan Haskel, Pearson, Morgan Stanley, Shashwat Chauhan, Sonia Cheema
Organizations:
London Stock Exchange Group, REUTERS, Royce, Burberry Group, HSBC, PT Pearson, Man, Janus Henderson Investors, Bank of England's, Thomson
Locations:
City, London, Britain, U.S, Bengaluru