FTSE 100 Hits Seven-Week Intraday Low on New Covid-19 Variant Fears
November 26 2021 - 5:15AM
Dow Jones News
FTSE 100 Falls to Seven-Week Intraday Low on New Covid-19
Variant Fears; IAG Drops
0909 GMT - The FTSE 100 slides by 2.8% to 7104.06 in early
trade, having hit a seven-week intraday low of 7051.24, as fears
about a new, fast-spreading Covid-19 variant which might evade
immunity cause investors to flee out of risky assets. "A new and
potentially dangerous Covid variant has prompted a wave of risk
aversion across markets," IG says. Travel stocks fall sharply after
the U.K. imposed travel restrictions for flights from southern
Africa as a result of the new strain, with British Airways owner
International Consolidated Airlines losing 9.3%. Oil stocks, miners
and banks all drop, while Rolls-Royce loses 8.4%. Moves in markets
"will be amplified" by thin liquidity following Thursday's
Thanksgiving holiday in the U.S., IG says.
(jessica.fleetham@wsj.com)
Companies News:
Blue Prism Agrees to Increased GBP1.22 Bln Takeover by Vista
Funds
Blue Prism Group PLC said late Thursday that it has agreed to
and recommended an increased 1.22 billion-pound ($1.63 billion)
final offer from Bali Bidco Ltd., a company indirectly owned by the
Vista Funds.
---
Diageo Starts Next Tranche of Return to Capital Program
Diageo PLC said Friday that that it has started the next tranche
of its return of capital program of up to 4.5 billion pounds ($5.99
billion) to shareholders by the end of June 2024.
---
ScS Group Two-Year 16 Week Comparable Orders Were Up 0.9%
ScS Group PLC said Friday that two-year like-for-like order
growth for the 16 weeks ended Nov. 20 was 0.9%, but that it has
experienced a fall in store footfall and subsequent sales over the
past seven weeks with customers spending less on big ticket
items.
---
Kitwave Group Performs Ahead of Views in 2H; Appoints COO
Kitwave Group PLC said Friday that it performed ahead of revenue
expectations in the second half of fiscal 2021 and that this has
led to its operating profit being significantly ahead of views.
---
Essentra's CFO to Leave by End 1H 2022
Essentra PLC said Friday that Chief Financial Officer Lily Liu
is leaving the company to take up a new role at Synthomer PLC.
---
Parkmead Shares Fall on Significantly Widened FY Pretax Loss
Shares in Parkmead Group PLC on Friday fell after the company
reported a significantly widened pretax loss for fiscal 2021
despite higher gas prices.
Market Talk:
European Online Retailers, Delivery Stocks Rise Amid Coronavirus
Concerns
0926 GMT - Shares in European companies selling their products
and services through online channels are on the rise Friday as
countries in the region roll out mobility restrictions to contain a
surge in coronavirus infections and after European Commission
President Ursula von der Leyen said the EU's executive arm would
propose halting air travel from the southern African region due to
a new variant of concern. German meal-kit maker HelloFresh is up
3.4%, while online furniture retailer Home24 is up 4.1%. Shares in
food-delivery company Delivery Hero are up 2.1%, while online
retailer Zalando is also up 1.9%. French videogames maker Ubisoft
is up 1.7%, a sign the company will continue to benefit from higher
engagement from homebound players. (mauro.orru@wsj.com;
@MauroOrru94)
Contact: London NewsPlus, Dow Jones Newswires; Dow Jones
Newswires; paul.larkins@wsj.com
(END) Dow Jones Newswires
November 26, 2021 05:00 ET (10:00 GMT)
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