NEW YORK: London stocks marked their worst session in two weeks on Wednesday as a spike in novel coronavirus cases across the globe compounded fears of a second wave of the pandemic, while builder Crest Nicholson tumbled after issuing a grim forecast.
The homebuilder slumped 18.2% for its biggest one-day drop in three months after forecasting a 60% to 70% slide in its annual adjusted pretax profit due to coronavirus-led disruptions.
Optimism around a rebound in economic activity and a raft of global stimulus helped the FTSE 100 rally about 25% since crashing to an eight-year low in March, but the pace of gains has slowed recently.
Oilfield services provider Petrofac Ltd slid after taking its first-half trading was hit by the pandemic.
But Naked Wines and Mr Kipling cakes maker Premier Foods Plc shot up as they posted upbeat results due to a boost in demand during the lockdown.
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