FTSE 100 loses ground on Imperial Brands' profit warnings

UK shares fell on Wednesday after a previous two-day rally, as tobacco group Imperial Brands slid after sounding a profit warning alarm and the coronavirus epidemic kept investors on edge. The FTSE 100 lost 0.3% by 0805 GMT, after gaining more than 2% over the last two sessions when China announced stimulus measures, while the midcaps were flat.

Imperial Brands, the maker of Winston cigarettes, fell 5.2% and was on course for its worst day in four months after it warned on profit for the year because of a U.S. regulatory ban on some flavors of cartridge-based vapor devices. Losses were spread across all but two sectors on the FTSE 100 in early trade.