FTSE 100: Stock markets fall as oil prices tumble amid fears of new lockdowns


The FTSE 100 fell after opening on Friday as oil prices tumbled on signs of lower demand in China and renewed fears of lockdowns in Europe.

The index fell 1 per cent before rebounding to trade 0.6 per cent down at 6,743.07. BP and Royal Dutch Shell – two of the index’s biggest constituents – were down 2 per cent and 1.3 per cent respectively.

European stock markets went into the red as concerns grew about a slow vaccine rollout and additional coronavirus restrictions. The pan-European STOXX 600 fell 0.6 per cent and France’s CAC 40 was down 0.7 per cent as a new four-week lockdown was due to begin in 16 regions with rising numbers of Covid-19 cases. Much of Italy also entered a new lockdown earlier this week.

Asian stocks fell and Wall Street‘s benchmark S&P 500 index closed down 1.5 per cent overnight.

It came a day after the S&P 500 hit a new record high on the back of reassurances from the Federal Reserve that it would keep its key interest rate close to zero.



Source link

Related posts