Investors are watching for the new coronavirus strain

European markets fell on Monday as investors watched a new rapidly spreading type of coronavirus that shut down a large part of the United Kingdom.

Pan European Stokes 600 It fell 1.8% in early trade, with travel and entertainment stocks down 4% to lead the losses. All major sectors and exchanges slipped into negative territory.

Traders are anxiously watching the new Covid boom in the UK, which has led to severe lockdowns in London and other parts of southeast England and a change in the mixing of families over the Christmas holidays.

The variant is thought to be up to 70% more transmissible than the original strain of the disease. The World Health Organization said it has so far been identified in Denmark, the Netherlands and Australia.

It has led to Several countries in Europe and elsewhere to prevent travel from Britain. France, Germany, Italy, Ireland and the Netherlands have all banned flights from the United Kingdom, as have Canada and Israel.

The situation may further complicate the Brexit talks. Britain and the European Union remain deadlocked over trade ties after Brexit as the December 31 deadline approaches, with wrangling over issues such as fisheries reeling from negotiations.

Sterling pound It sank sharply against the dollar, And decreased 1.7% to about $ 1.33.

In Asia, stocks traded mixed as the coronavirus situation in parts of northern Asia – such as Japan and South Korea – remains grave.

Meanwhile, US futures were firm after Congress reached agreement on A. A $ 900 billion anti-coronavirus stimulus package. Lawmakers will vote on the relief and financing bill on Monday.

READ  The United States announces the re-imposition of United Nations sanctions on Iran, despite the differences of the allies

Regarding the data, the Eurozone Consumer Confidence figures are due at 3 PM London time.

Travel balances are suffering

Leave a Reply

Your email address will not be published. Required fields are marked *