Wall Street stocks closed sharply lower on Monday, with the Dow Jones registering its worst performance since early September after the US reported a daily record for new Covid-19 cases over the weekend.
Travel stocks paced decliners at the start of the week, amid news that multiple European governments were planning to tighten restrictions on mobility due to the second wave Covid-19.
European stocks opened were still lower at lunchtime on European stocks began the week sharply lower on Monday, amid fading hopes for a last-minute deal on further fiscal stimulus on Capitol Hill, new measures across the Continent to dampen the recent sharp rise in Covid-19 infections and the looming elections in the US.
London stocks finished weaker on Monday, amid doubts over US stimulus and ongoing concerns about the Covid-19 pandemic and increasing restrictions.
European stocks were still lower at lunchtime on Monday on the back of a profit warning from software maker SAP and tighter Covid-19 restrictions.
An estimated 6m small businesses in the UK which employ around 16. 6m people are now in a precarious situation due to the effects of the coronavirus pandemic on the economy.
Markets' focus on Tuesday will be on a slew of data across the US and Europe which will help investors determine how economic growth was holding as the second wave of the pandemic spread, even if hospitalisations and death rates remained well below their levels of last spring.
Talks between US lawmakers for a fourth government stimulus package were set to continue on Monday.
Pearson rallied on Monday after UBS upgraded its rating on shares of the education publisher to ‘buy’ from ‘neutral’ and lifted the price target to 650. 0p from 545. 0p as it becomes more positive on US higher education.
Hargreaves Lansdown revealed on Monday that non-executive director John Troiano had purchased 14,400 ordinary shares in the FTSE-100 listed financial services company.
Borders & Southern Petroleum announced on Monday that it has been granted an extension to its Falkland Islands licences.
Waste management business Augean has been notified by HMRC that it will be repaying £1. 6m of landfill tax to the company, it announced on Monday.
IGas Energy has entered into heads of terms with modular hydrogen generation systems manufacturer BayoTech to produce hydrogen from some of its existing gas resources, it announced on Monday.
Digital television software company Mirada announced the commercial launch of its Android TV operator tier with a custom launcher on Monday with Mexican operator Izzi.
London’s FTSE 250 was down 1. 2% at 17,886. 75 in afternoon trade on Monday.
London’s FTSE 100 was down 0. 8% at 5,813. 07 in afternoon trade on Monday.
Wall Street stocks opened sharply lower on Monday, putting the Dow Jones on track for its worst day in almost two months after the US reported a daily record for new Covid-19 cases over the weekend.
New home sales in the States fell unexpectedly last month.
Pearson: UBS upgrades to buy with a target price of 650p.
Pearson rallied on Monday after UBS upgraded its rating on shares of the education publisher to ‘buy’ from ‘neutral’ and lifted the price target to 650p from 545p as it becomes more positive on US higher education.
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