European stocks set to open lower amid jitters over new coronavirus strain

European markets are set to commerce lower on Monday as traders monitor a fast-spreading new variant of the coronavirus strain that has shut down a lot of the U.Okay.

Britain’s FTSE 100 was seen opening down by 75 factors at 6,442, Germany’s DAX off by 190 factors at 13,448 and France’s CAC falling 94 factors to 5,427, in accordance to index knowledge from IG.

Traders are nervously watching the new Covid mutation within the U.Okay., which has resulted in a tricky lockdown in London and different components of southeast England and a U-turn on the blending of households throughout Christmas.

The variant is assumed to be up to 70% extra transmissible than the unique strain of the illness. The World Health Organization stated it has thus far been recognized in Denmark, the Netherlands and Australia.

It led to a number of international locations in Europe and elsewhere to block journey from Britain. France, Germany, Italy, Ireland and the Netherlands all barred flights from the U.Okay., whereas Canada and Israel have executed the identical.

The scenario might additional complicate Brexit talks. Britain and the European Union stay in a impasse over post-Brexit commerce relations as a Dec. 31 deadline looms, with disputes over points resembling fisheries plaguing negotiations.

Sterling sank sharply versus the greenback, falling 1.2% to round $1.34.

In Asia, stocks traded combined because the coronavirus scenario in components of North Asia — resembling Japan and South Korea — stays severe.

Meanwhile, U.S. futures had been flat after Congress reached settlement on a $900 billion coronavirus stimulus package deal. Lawmakers will vote on the aid and funding invoice on Monday.

In phrases of information, euro zone shopper confidence figures are due to be launched at three p.m. London time.

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