Diageo dragged down by coronavirus update

FTSE 100 drinks giant Diageo (LON:DGE) slipped 2.23% to 2,894p (as of 14:15 GMT) after it provided an update outlining the impact of coronavirus on trading. Chinese on-trade sales have been heavily disrupted, while sales in other Asian countries have also been hurt to a lesser extent.

Management estimate that the total negative impact this year on organic net sales will be in the region of £225-325 million and organic operating profits will be reduced by £140-200 million.