BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks tumbled on Thursday as the global death toll from the coronavirus rose to over 3,000, with more than 95,000 infected.
However, Bank of England Deputy Governor Ben Broadbent said the economic impact of coronavirus will ultimately be temporary.
'Judging by past episodes it's likely that the impact will ultimately be temporary,' he said in a speech at the London Business School. 'As such, the outbreak should not directly affect the longer-term viability and productive potential of most businesses or of the economy as a whole.'
Further, he said there may be a role for economic policy to support activity and the provision of credit in the meantime, in order to ensure that short-term disruption doesn't result in longer-term damage.
The benchmark FTSE 100 was down 77 points, or 1.14 percent, at 6,740 after climbing 1.5 percent in the previous session.
Aviva shares rallied 2.2 percent after the life and general insurer posted a record profit in its first year under chief executive Maurice Tulloc.
Global recruiter Page Group surged nearly 4 percent. The company reported profit before tax of 144.2 million pounds for the year ended 31 December 2019 compared to 142.3 million pounds last year.
Car insurance provider Admiral Group gained 0.6 percent after its Group statutory profit before tax for the year ended 31 December 2019 rose 10 percent.
Medical technology business Smith & Nephew fell 1.3 percent. The company announced that its Chief Financial Officer Graham Baker will step down from the Board and his CFO role on April 30 in order to take up a new CFO role outside the healthcare sector.
Domino's Pizza Group tumbled 3.6 percent after its profit attributable to equity holders of the parent for fiscal year 2019 dropped to 13.1 million pounds from 49 million pounds in the prior year.
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