Pound falls and £33billion wiped off FTSE 100 as markets react to Europe’s UK travel bans

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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 FTSE 100 was down 1.8% within minutes of opening this morning

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 pound fell against the dollar this morning
Sterling plummeted against the euro today as Brexit talks stalled

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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