Stocks around the world were hit on Monday as fears intensified over China’s virus outbreak and the economic impact on the luxury and travel sectors.

The FTSE 100 fell 1.4% to 7,485 points and the FTSE 250 was off 1.1% at 21,490 points. European markets saw falls of between 0.9% and 1.5%. In Japan, the Nikkei 225 dropped 2% while markets in China and Hong Kong were closed for a holiday.

Miners were weak as base metal prices and oil prices slumped while there was demand for perceived haven gold which hit a two week high.

Kaz Minerals (KAZ) and Rio Tinto (RIO) were 5% lower at 455p and £42.44 respectively, while shares in cruise ship company Carnival (CCL) were down 4% at £32.93.  Shares in airline International Consolidated Airlines (IAG) were down 5% to 592p.

Shares in guarantor lender Amigo (AMGO) slumped 35% to 44.45p on news that founder James Benamor who controls 60.6% of the shares, had appointed RBC Capital Markets to look into selling all or parts of the business, including the potential delisting of the shares.

Despite booking a 21% rise in annual profit, specialist recruitment company SThree (STEM) was trading 0.8% cheaper at 362.7p.

The company, which focuses on the science, technology, engineering and mathematics sectors, declared a full-year dividend of 15.3p per share, up 6% on-year.

Diamond producer Petra Diamonds (PDL) was weaker after saying that revenue slipped on lower gem prices despite higher output in the first half. The shares were 11% lower at 9.5p.

Energy storage and clean fuel provider ITM Power (ITM) said first half-losses widened 25% amid a steeper decline in grant income and ongoing legacy issues. The shares fell 2.8% to 106p.

One of the few stocks on the positive side of the ledger today was low-cost African airline Fastjet (FJET:AIM), up 3% to 0.18p, after the company said performance over the peak holiday season had met expectations.

Doors and windows retailer Safestyle (SFE:AIM) was off 15% at 59p after a trading update highlighted a full-year loss due to higher costs.

Safestyle UK said its revenue in the second half period was up about 11% on-year, with monthly profits delivered across most of the second half.

A full list of risers and fallers can be found HERE.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.

Issue Date: 27 Jan 2020