MORE than £33billion has been wiped off the FTSE 100 within minutes of opening this morning as many European countries ban UK travellers over fears of a mutant coronavirus strain.
Tougher lockdown restrictions for London and much of the south east of England plus a Brexit talk deadlock has knocked 1.8% off Britain’s leading companies.
The pound has also plummeted by 1.9% against the dollar this morning, falling to $1.3278.
Meanwhile, the euro has jumped 1.4% against sterling.
Prime Minister Boris Johnson will chair a crisis Cobra meeting today over warnings of significant delays for freight lorries.
On the FTSE 100, British Airways owner International Airlines Group has been hit the hardest, falling 9%, while engine maker Rolls-Royce Holdings PLC dropped 7.8%.
The footsie index tracks the performance of the UK’s 100 biggest companies.
Ahead of opening today, the index was down 13% compared to this time a year ago, making it currently the worst-performing major index.
In comparison, Wall Street’s S&P 500 index gained 17%, Japan’s Nikkei rose by 13% and Germany’s Dax went up by 1.8%.
More to follow…
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