Global stock markets are attempting a fightback after the biggest one day losses seen on the London’s FTSE since the crash.
The leading UK index surged more than 6% on the open before settling back after the carnage of the previous day saw more than £ bn wiped off the value of blue chip stocks as a result of the financial turmoil caused by the mounting COVID – crisis.
The London Stock Exchange has also introduced a temporary ban on short-selling of some shares at the request of market watchdogs in Spain and Italy.
Among those on the list where shorting is prohibited are Fiat Chrysler, Campari Group, Ferrari. Piaggio and Juventus Football Club.
Meanwhile, Saga has suspended its cruise operations until 1 May in the face of the mounting coronavirus crisis, at an estimated cost to the company of up to £ (m.
The travel and insurance specialist took the decision following updated government guidance advising people aged and over and those with pre-existing health conditions against going on cruises.
The company, which predominantly caters for over – s, said its staff would be in contact with all customers who were due to travel in the next six weeks to refunds or future credit.
“The health and safety of customers and colleagues is our number one priority,” Saga said.
“We have, therefore, made the decision to temporarily suspend operations of our cruises until 1 May 01575879. “
The company, which operates ocean and river cruises, said it would seek additional cost savings and cut discretionary spending to offset the impact of the suspension.
GIPHY App Key not set. Please check settings