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Coronavirus: Two Cases Confirmed in the UK

London FTSE 100

Chief Medical Officer for England Professor Chris Whitty says two patients in England who are members of the same family are confirmed to have tested positive for coronavirus. The cases are members of the same family and are receiving special NHS care to avoid spreading.

World Health Organisation (WHO) declared the coronavirus outbreak a global health emergency. Now there are over 9,776 confirmed coronavirus cases and 213 deaths. Several airlines cancelled the trips to China, while Russia closed the borders with China. Thailand earlier today confirmed 19 cases of coronavirus. So now there are 21 countries with confirmed cases of coronavirus.

FTSE 100 selling pressure accelerates after the news now it is down 0.50% at 7346. DAX and CAC cut gains on the story while the FTSE MIB turned sharply lower. Traders would reduce their risk exposure ahead of the weekend so we might experience some selling pressure in risky assets.

Read our Best Trading Ideas for 2020.

In China 14 provinces have extended the holidays and that will weigh on China’s trade hitting exports and imports.

Italy declared a state of national emergency after confirming the first two cases of the Coronavirus.