Stocks subdued as England prepares for new Covid tiers – business live | Business

November 27, 2020 by No Comments

While the rest of the markets struggled out of bed, the FTSE woke up with a splitting headache this Friday.

It appears that investors haven’t taken the latest Covid-19 Tier designations well. With most of the UK set to come out of lockdown into the top 2 most severe levels, the FTSE sank 1% after the bell, forcing the index back towards 6,300.

The hospitality and leisure sectors once again were among the worst hit, ensuring that the UK-focused FTSE 250 also dropped 1%.

The pound, meanwhile, edged 0.1% higher against the dollar but failed to move against the euro, as sterling continues to nervously wait for signs that the current Brexit talks are going to finally produce a deal before the end of the year. It’s not looking too promising.

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