
No results matched your search
(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
* New coronavirus strain 70% more transmissible
* Europe imposes travel ban on UK
* Travel stocks hit by restrictions
* FTSE 100 down 1.7%, FTSE 250 off 2.1%
(Updates to market close)
By Medha Singh
Dec 21 (Reuters) - UK mid-cap stocks suffered their worst
day in 3 months on Monday as stricter curbs to fight a
fast-spreading new strain of the coronavirus prompted travel
bans, worries about food shortages and further economic pain.
The domestically focused FTSE 250 .FTMC fell 2% as the
latest development in the pandemic added to investors' worries,
with no Brexit trade deal in sight and just 10 days to go until
a transition period expires.
"A contraction was already looking likely in the fourth
quarter and this could now extend into the new year if the
lockdown continues," said Rupert Thompson, chief investment
officer at Kingswood.
Several nations closed their borders to Britain, sending the
blue-chip FTSE 100 .FTSE down about 1.7% despite a sharp slide
in the pound. GBP/ BP BP.L and Royal Dutch Shell RDSa.L weighed the most on
the index with Shell RDSa.L also taking a hit after it said it
would write down the value of its oil and gas assets by $3.5
billion to $4.5 billion. O/R
Travel and leisure stocks, including British Airways-owner
IAG ICAG.L , easyJet EZJ.L and InterContinental Hotels Group
IHG.L , shed between 1% and 8% after countries cut transport
ties with Britain.
"The key to whether the current relatively modest correction
turns into something more serious will be whether the vaccine
roll-out proceeds smoothly and the vaccines prove just as
effective against this new more infectious mutation," Thompson
said.
Although the FTSE 100 has recovered sharply since early
November, the index is on course for the worst year since the
global financial crisis in 2008 as pandemic-driven lockdowns
battered the economy and led to mass layoffs.
Stay-at-home winner Ocado Group OCDO.L jumped by about 6%
while precious metal miners, including Fresnillo FRES.L , added
1.6% as safe haven demand drove gold prices higher.
LAGOS, March 1 (Reuters) - Nigeria launched on onlineregistration portal for COVID-19 vaccinations, its primaryhealthcare agency said on Monday, the day before the first dosesare...
ABUJA, Feb 28 (Reuters) - Nigeria expects to take deliveryof 3.92 million doses of the COVID-19 vaccine on Tuesday, thethird West African country to benefit from the COVAX...
* Africa's most populous country has had fewer than 1,900deaths* Nigeria will not seek bilateral deals, says disease centrechief(Adds officials' quotes, vaccine details)By Michael...
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.