The FTSE 100 sinks 3 pieces as a new version of Covid rattles – live updates

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Ggood morning.

I’m afraid to do some pretty grim reading for the start of your Friday, as news of Covid’s new super-variant shocks the markets.

Although little is known about version B.1.1529, which was first discovered in South Africa, they warned that it is the most dangerous mutation they have ever seen, enough to scare investors.

In addition to the sharp fall in Asian stocks, U.S. futures fell and crude oil lost ground. U.S. treasuries and the yen rose, while the South African rand fell to its lowest level in a year.

5 things to start the day

1) M&S is under criticism for its plan to demolish Marble Arch’s flagship store Critics say “ugly spreadsheet architecture” risks

2) Last year, more EU citizens left the UK than arrived for the first time in three decades Net migration decline as pandemic restrictions and post-Brexit rules came into force

3) The Bank of England Museum will host an exhibition of slavery Portraits of former governors linked to the slave trade will be on display when the Bank’s museum reopens

4) Founder Huela lined up for hundreds of millions out of a floating amount of £ 1 billion Julian Hearn has a 53% stake in the beverage replacement meal company

5) The energy supervisor faces “serious issues” due to a series of supplier failures Two other energy providers stopped trading on Thursday, affecting another 70,000 households

What happened overnight

Shares fell on Friday, reaching their biggest weekly drop in nearly two months, while safe haven assets such as bonds and yen strengthened as the new version of the virus contributed to swirling concerns about future growth and higher U.S. interest rates.

The South African rand fell 1 percent in early trade, as did futures contracts for U.S. crude oil. The S&P 500 futures fell 0.4 percent, while the risk-sensitive Australian and New Zealand dollars fell to a three-month low.

Japan’s Nikkei fell 1.7 percent in early trading and Australian shares fell 0.6 percent. MSCI’s broadest Asia-Pacific stock index outside Japan fell 0.2% due to a weekly drop of 1 percent.

He’s coming today

  • Company: No company announcements are scheduled for today
  • economy: Stock of money (EU)

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