FTSE LIVE: Shares stabilise despite Fed rate cut failing to lift markets

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FTSE LIVE: Shares climb despite Fed rate cut falling flat yesterday; Intu abandons £1bn equity raise; Wizz Air to slash costs

By Harry Wise For This Is Money

Published: | Updated:

Shares were stable on Wednesday and bonds held gains, despite the emergency rate cut from the US Federal Reserve seeming to stoke rather than soothe fears over the coronavirus’ widening global economic fallout. 

Shopping centre owner Intu has abandoned attempts to raise between £1billion and £1.5billion, it announced on Wednesday morning, blaming market uncertainty. The company said investors had been put off by poor conditions in the equity market. 

Low-cost European carrier Wizz Air has revealed actions to slash routes, cut costs and freeze recruitment as part of plans to offset plunging demand amid the coronavirus outbreak.

Tenants across England have collectively received discounts of nearly £5billion to help purchase their council home under the Right to Buy (RTB) scheme since 2012, according to analysis.

 

 

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