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UK stocks took another beating on Monday morning as countries around the globe enforced ever more drastic social distancing measures to combat the spread of Covid-19.
At 0827, the benchmark FTSE 100 index was down 224.73 points, or 4.3%, at 4.966.05.
Royal Dutch Shell declined 3.1% to £10.298 on announcing it would halt its share buyback programme and cut spending to counter the impact of the spreading coronavirus and a recent slump in oil prices.
Shell said it had decided not to continue with the next tranche of its share buyback programme following the completion of the current tranche.
Associated British Foods slumped 8.2% to £16.14, having announced that it would lose £650m a month in sales following the closure of all of its Primark budget fashion stores.
Television broadcaster ITV sank 19% to 51.28p after announcing that restrictions on work practices to limit the Covid-19 outbreak were having a 'significant impact' on its ability to film productions.
ITV also said it had seen further deferrals in advertising spend from clients.
Educational publisher and services group Pearson slipped 10% to 448.2p said it had decided to pause its share buyback in the wake of the spreading coronavirus.
Home improvement retailer Kingfisher fell 2.5% to 123p pulled its final dividend, citing 'unprecedented uncertainty' caused by the Covid-19 outbreak.
Fashion retailer Ted Baker slumped 16% to 146.31p, even as it agreed to sell its head office in London, known as the Ugle Brown Building, to a unit of British Airways Pension Trustee for £78.8m.
The company also said the 'vast majority' of its retail stores and concessions were now closed, representing about 68% of its global retail sales, due to Covid-19.
Bus and rail group Stagecoach reversed 7.7% to 56.65p warned on profits and said it was unlikely to pay a final dividend as the spreading coronavirus and government efforts to contain it crimp demand for travel.
Luxury watch retailer Watches of Switzerland ticked 5.9% lower to 199.3p warned of lower-than-expected sales, having shuttered its stores in the wake of the spreading coronavirus.
The company said it would shut its UK stores on Monday and had already shut its US stores last Thursday.
Irn-bru maker AG Barr dropped 5.8% to 408p warned of weaker demand following 'significant challenges' in the hospitality sector as consumers prioritised take-home purchases following government efforts to contain the Covid-19 outbreak.
Suit retailer Moss Bros lost 1.6% to 19.02p said it had decided to temporarily close all of its stores due to the spread of Covid-19 and government containment measures.
Tools and equipment hire group Speedy Hire dropped 12% to 41.02p warned its annual profit was expected to be 'slightly below' market consensus as the spreading coronavirus hurts demand.
'Looking further ahead, the full impact of COVID-19 will depend on the length and severity of the disruption to activity in our markets.'
Ten pin bowling alley operator Ten Entertainment shed 1.7% to 127.78p confirmed that it had closed all of its sites in compliance with the UK government's response to Covid-19.