The long goodbye
FTSE Hargreaves HRGVAirlines, hotel stocks catch breath
Buffeted for days by news of the spreading coronavirus, hotel operator and airline shares are catching breath this morning as Chinese authorities seem to have got to grips with at least slowing down the spread of the virus. The worst affected cities have been on lockdown for a week and even the unaffected cities have extended the Spring Festival closures until the end of this week. But Shanghai and Shenzhen stock markets plan to reopen on Monday, as do most of the commodity exchanges in the country.
BoE’s comments lift pound
Sterling traders are still in an upbeat mood following the Bank of England’s meeting yesterday, encouraged by comments that “near-term uncertainties facing businesses and households have receded”. The pound is back above $1.31 this morning, the highest level in a week.
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