FTSE 100 Falls On Brexit Worries
U.K. stocks fell on Monday on worries about the fresh hit to an economic recovery after an official said Brexit trade talks remain difficult with "significant differences" between the two sides.
Meanwhile, all of London and much of southeastern England is now under strict "Tier 4" lockdown restrictions after the discovery of a new strain of the Sars-CoV-2 virus, which is said to be up to 70 percent more transmissible.
The benchmark FTSE 100 dropped 84 points, or 1.2 percent, to 6,453 despite the pound plunging as much as 2 percent after another missed deadline in Brexit trade talks.
Oil stocks were coming under selling pressure, with BP Plc losing 4.7 percent and Tullow Oil falling as much as 8.7 percent.
Royal Dutch Shell lost about 4 percent. The company said it will write down $3.5 to $4.5 billion in the value of oil and gas assets in 2021.
Telecommunications company Vodafone declined 2.3 percent after saying it has ended talks to sell its Egyptian business to Saudi Telecom Co.
Travel and leisure stocks paced the decliners, with IAG and EasyJet falling around 9 percent.
Market Analysis
Reprinted from RTTNews，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
Load Fail()