Banks lead London stocks lower

UK stocks slumped on Friday with Asia-focussed banks tumbling after China said it would impose a new national-security law on Hong Kong, ratcheting up tensions with Washington and raising fears of more pro-democracy protests in Asia's financial hub.

The blue-chip FTSE 100 declined 1.9%, with HSBC sliding 5.2% to its lowest since March 2009 and Standard Chartered falling 4.2% to a 2016 low.

The banking index fell 3.9% and was set for its worst day this month, while the FTSE 250 lost 1.8% with declines across energy, mining and real estate sectors.

Transport operator Go-Ahead Group slumped 10% after warning the pandemic would hit its profit this year, while food and events guide specialist Time Out Group Plc fell 2.4% on launching a share issue worth 45 million pounds to pay off outstanding debt.

Luxury retailer Burberry Group Plc rose 2.1% despite reporting a 27% slump in comparable sales in the final quarter of its year, which ended with about 60% of its stores closed.

British Airways-owner IAG and easyJet Plc shed about 3% each as the country geared up to announce details of its plans for a quarantine for international arrivals.