StockMarketWire.com - UK stocks slumped on Monday after the spread of coronavirus in countries outside of China, including South Korea and Italy, stoked global pandemic fears.

By 11.29 a.m. the benchmark FTSE 100 index was down 255.63 points, or 3.45%, at 7,148.29.

LARGE AND MID CAP RISERS AND FALLERS

Associated British Foods fell 1.7% to £25.39 after the owner of the Primark budget clothing chain said the coronavirus outbreak could cause shortages in its supply chain.

Daily Mirror and Daily Express newspaper publisher Reach cheapened 1.2p to 173.4p despite swinging to a full year profit as cost cutting offset falling sales.

Reach also said it was targeting a rise to 7m registered customers by the end of 2022, up from less than 1m at the end of 2019, as part of a strategy update.

Outsourcing company Bunzl gained 1.7% to £19.82, having reported a rise in annual profit even as revenue was held back by a weaker performance in North America.

Veterinary pharmaceuticals company Dechra Pharmaceuticals shed 1.8% to trade at £27.50, even as its half-yearly profit more than doubled.

Dechra Pharmaceuticals also warned of supply challenges in its North America business.

Research tool manufacturer Oxford Instruments slipped 4.5% to £15.38 after it sold its OI Healthcare business in the US to MXR Imaging for $15.0m (£11.5m).

SMALL CAP RISERS AND FALLERS

Infection prevention product manufacturer Tristel rallied 6.3% to 420p as it posted a 25% rise in first-half profit that it said exceeded its expectations.

Tristel also said the coronavirus outbreak would be a 'powerful influence' for greater global investment in infection prevention and control.

Cake and bread maker Finsbury Food firmed 1.5% to 102p on strong first half results, showing a 17.9% rise in pre-tax profit to £8.8m, a decrease in net debt and a 6% dividend hike to 1.23p.

Vehicle telematics services provider Quartix fell 1.2% to 430p, having booked a decline in annual profit owing to sales slumping in its insurance division.

Cell-based therapeutics developer ReNeuron added 1.8% to 145p on recording positive long-term data from a trial of a treatment for retinitis pigmentosa.

Pesticides company Plant Health Care sank 35.4% to 9.2p as it launched a share issue to raise at least $4m, at 8p a share.

Recruitment company RTC reversed 4% to 72.5p after it posted a 5.4% fall in annual profit as rising revenue was more than offset by higher expenses.


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