FTSE LIVE: Shares sink further as coronavirus rocks markets

FTSE CLOSE: Shares rise for first time this week as coronavirus still worries markets; Restaurant Group to shut up to 90 outlets; Diageo warns on earnings

The FTSE 100 closed up 24.59 points at 7042.47 and the pound was at $1.29 against the dollar.

Shares ended higher after two days off losses as investors around the world sold off positions due to fears the virus outbreak is hitting the global economy hard. 

Drinks giant Diageo said it could lose up to £200million this year from coronavirus as the outbreak impacts sales throughout Asia. The Gordon’s ginmaker said demand has been knocked across greater China, where the outbreak started. 

Disney CEO Bob Iger has been abruptly replaced as the head of the iconic company. The former weatherman said he would be stepping down from his $47.5million-a-year job as CEO and was appointed executive chairman, effective immediately.

Wagamama owner The Restaurant Group (TRG) said it plans to close up to 90 restaurant sites by the end of next year. The dining firm said the closures will impact sites across its leisure portfolio, which includes the Frankie & Benny’s brands. 

Slough has again been named the best place to find a job because of a large number of vacancies and above average wages. The Berkshire town came top of a list of areas compiled by jobs site Glassdoor for the third time in recent years.

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