StockMarketWire.com - The FTSE 100 continued on its downward trajectory in early morning trading, having hit its lowest point in four years when it closed yesterday.

The index fell 5.35%, losing 314 points to reach 5,562.41 as the UK implements its 'delay' plan in response to the coronavirus and the US suspends all travel from Europe for the next 30 days.

Rishi Sunak's first budget as chancellor, delivered yesterday, has also had an impact as the Office of Budget Responsibility warned the hike in public borrowing will leave the UK 'vulnerable' to recession and changing investor sentiment.

Retailer WHSmith has warned on profit and sales amid coronavirus disruption to its travel division with revenue expected to be down 15% on expectations.

Total revenue increased 7% for the first half of the year to February 29, 2020, in spite of high street pressures.

Its share price fell almost 13% in early morning trading to 1,383p per share.

Pharma giant AstraZeneca saw its share price fall 3.6% to 6,708p per share after it announced the trial of a potential new medicine to treat patients with sensitive relapsed ovarian cancer had failed to meet its primary objective of improving survival rates compared with chemotherapy.

'The trial did not meet the primary endpoint in the intent-to-treat population of a statistically significant improvement in progression-free survival (PFS) with cediranib added to Lynparza versus platinum-based chemotherapy,' the company said.

Meanwhile, insurer Just group announced that Chris Gibson-Smith would retire as chairman as soon as a suitable successor had been identified. Its share price fell 5.7% on the back of the news, to 53.9p per share.

The announcement came as the company swung to an annual profit as measures to turnaround performance were taking shape and falling interest rates boosted its investment and economic performance.

International real estate adviser, Savills, has reported a 10% boost in revenue in 2019, driven by strong performance in its 'less transactional' business lines.

Pre-tax profits at the firm remained stable at £143.3 million in 2019, compared with £143.7 million a year earlier. Its shares fell 8.2% to 917p.

Bodycote said it would not be providing a special dividend this year as it looked to complete its acquisition of Ellison Surface Technologies. The company also reported a fall in annual profit as revenue and margins declined amid a 'challenging' year. The shares fell 12.6% to 560p.

For 2019, pre-tax profit fell to £123.9m from £132.2m on-year as revenue slipped 1.2% to £719.7m.

Group revenue at independent rail and coach travel platform, Trainline, increased 24% year-on-year, driven by the launch of new services in international markets.

Group net ticket sales of £3.7 billion increased 17% year-on-year, while UK consumer net ticket sales increased 24% on the back of strong mobile demand. However, the shares fell 12.3% to 343p Story provided by StockMarketWire.com