COVID-19: FTSE 100 and pound dip as newest pandemic fears overshadow ‘freedom day’

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The FTSE 100 and the pound have fallen as Britain’s “freedom day” failed to soothe rising fears about COVID case numbers and disruption.

London’s main percentage index used to be simply over 100 issues, or 1.4%, decrease in early buying and selling – taking it underneath the 7,000-mark – led by way of a 5% fall for British Airlines proprietor Global Airways Crew (IAG).

Airplane engine maker Rolls-Royce, Vacation Inn to Crowne Plaza proprietor Intercontinental Motels Crew and Whitbread, proprietor of Premier Inn, had been additionally some of the worst hit.

There have been no shares within the risers’ column because the FTSE joined in a world sell-off which noticed equivalent declines on Ecu bourses and adopted falls in a single day in Asia.

In the meantime the pound dipped by way of greater than part a cent in opposition to america greenback to simply over $1.37, its lowest degree in 3 months.

Richard Hunter, head of markets at interactive investor, mentioned: “The overall breadth of financial considerations has inevitably unfold to the United Kingdom marketplace, with the likes of the oil and mining sectors below force throughout the premier index on fears of slowing enlargement.

“On the identical time, shares stuck within the reopening industry such because the shuttle sector proceed to be risky even after the easing of a few world restrictions, as time starts to run down on a possible 2021 go back to popular tourism.”

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