Sumary of FTSE 100 tumbles as Covid variant fears hit markets – business live:
- Ocado, the online grocery business, is a rare riser in London this morning, up around 1.5%, amid high concerns about the B.
- “Things have escalated on the Covid front quite rapidly over the last 12 hours,” points out Deutsche Bank strategist Jim Reid.
- Victoria Scholar (@VictoriaS_ii) S African restrictions spooking the mkts-IAG opened down 20%, pared some losses but still down 10%.
- com/AvfFz3jjoa November 26, 2021 The South African rand is continuing to slide, down 2% at a one-year low, she adds.
- Victoria Scholar (@VictoriaS_ii) – $USDZAR extends rally amid concerns about new covid variant -South African rand has shed 9.5% off the November trough -Currency continues to depreciate after travel restrictions were introduced in the UK -USDZAR at the highest level since November 2020, down nearly 2% today pic.
- com/lEuBjFAKmA November 26, 2021 European stock markets have all fallen heavily too this morning, with the pan-European Stoxx 600 down 2.7%.
- European stock markets, November 26 2021 Photograph: Refinitiv Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, says fear has gripped the financial markets this morning, due to concerns that the new Covid strain could be far more contagious and might render vaccines less effective.
- The decision by the UK government to impose stringent quarantine rules on six southern African countries within hours has severely rattled the travel and tourism industry.