UK News

COVID-19: FTSE 100, Pound Dive As Latest Pandemic Fears Eclipse ‘Freedom Day’ | Economic news

The FTSE 100 and the pound fell as Britain’s ‘freedom day’ failed to allay growing fears over the number of COVID cases and disruption.

The main London stock index was just over 100 points, or 1.4%, down early in the session – bringing it below 7,000 – due to a 5% drop for the owner of British Airways, International Airlines Group (IAG).

Aircraft engine maker Rolls-Royce, owner of Holiday Inn to Crowne Plaza Intercontinental Hotels Group and Whitbread, owner of Premier Inn, were also among the hardest hit.

There were no stocks in the bull’s column as the FTSE joined a global sell-off that saw similar declines on European stock exchanges and followed overnight drops in Asia.

Meanwhile, the pound fell more than half a cent against the US dollar to just over $ 1.37, its lowest level in three months.

Richard Hunter, Head of Markets at Interactive Investor, said: “The general scale of economic concerns has inevitably spread to the UK market, with the oil and mining sectors coming under pressure in the first index for fear of a slowdown. the growth.

At the same time, stocks caught in reopening trade such as the travel sector continue to be volatile even after some international restrictions have been eased, as time begins to pass on a potential comeback in 2021. generalized tourism. “

More information about this article Read More
This notice was published: 2021-07-19 07:11:00

Leave a Reply

Your email address will not be published.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