Europe: Weak earnings hit stocks amid virus fears; FTSE slides as BoE stands pat

Global equities and some commodities markets have experienced a sharp sell-off this week as the number of reported cases of people infected with the flu-like coronavirus jumped. It has so far claimed 170 lives in China and spread to more than 16 countries, disrupting global travel and company operations.

Shares of watchmaker Swatch Group slipped 3.9 per cent as it reported a marked drop in annual sales and forecast continuing challenges in its key Hong Kong market this year. British cybersecurity company Avast was the worst performer on the pan-regional index after it announced the closure of the scandal-hit Jumpshot analytics business, which will see it take a charge of US$15 million-US$25 million in 2020 in wind-down costs.

Source: News Formal (newsformal.com)

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