Home business BUSINESS LIVE: FTSE dives 3% on fresh Covid variant fears #BUSINESS #LIVE #FTSE #dives #fresh #Covid #variant #fears

BUSINESS LIVE: FTSE dives 3% on fresh Covid variant fears #BUSINESS #LIVE #FTSE #dives #fresh #Covid #variant #fears

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BUSINESS CLOSE: Vaccine rally winners tumble as FTSE dives 3.6% on fresh Covid variant fears

The FTSE 100 closed down 3.6%, or 266.34 points, at 7,044.03 on a sell-off driven by fears about a new vaccine-resistant Covid variant.

The stocks ditched by investors opting for caution represent those that have benefited the most from the vaccine rally trade, seen since successful Covid jabs emerged just over a year ago. 

This morning the FTSE 100 plunged 3.1 per cent, although this was 11 per cent higher than a year ago.

By lunchtime, the leading London stock market index had clawed back some ground and was trading down 2.6 per cent, but it fell again by the close.

Flights from South Africa and five other countries to the UK have been banned after health secretary Sajid Javid sounded the alarm about the Covid development.

 Experts explained the B.1.1.529 variant has more than 30 mutations – the most ever recorded in a variant and twice as many as Delta – that suggest it could be more jab-resistant and transmissible than any version before it.

Germany’s recovery was beginning to stutter even before a fourth wave of Covid engulfed Europe, figures have revealed. 

Meanwhile, in the UK a report says the panoply of Covid loans and support schemes have protected the economy, but they have also served as gigantic honey pots for swarms of fraudsters and chancers. 

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The FTSE 100’s biggest fallers as the index closed today


#BUSINESS #LIVE #FTSE #dives #fresh #Covid #variant #fears

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