European shares hit as new virus strain grips UK

From airports to the Eurotunnel ... many travel terminals in Europe are incredibly empty.
That after Britain imposed a stricter lockdown over the weekend.
The rapid spread of a new strain of coronavirus led countries from Germany to Canada to ban travelers from the UK.
European stocks fell in response on Monday (December 21).
The pan-European STOXX 600 index was down 2%.
European neighbors, including Germany, Italy and the Netherlands, ordered flights from the UK to be suspended.
While France's ban also included freight companies, be it by road, air, sea or rail.
No wonder travel stocks have taken the news badly, down 5.5 percent in morning trading and on their way to their worst day in three months.
EasyJet and IAG, owners of British Airways, both lost around 9 percent.
Oil companies also posted losses in Europe as the new restrictions raised concerns about falling demand and weighed on crude oil prices.
Crude oil prices in the US and internationally fell by around 4%.
The new coronavirus strain is up to 70% more transmissible than the original.
And it couldn't come at a worse time.
A Brexit trade deal is still pending, with little time left to close a deal.
The pound sterling fell almost two percent against the dollar on Monday.
The UK-EU trade talks should resume on Monday, with just a few days left before a transition period expires at the end of the year.
Video transcript
- From airports to the Eurotunnel, many travel terminals in Europe are incredibly empty. That after Britain imposed a stricter lockdown over the weekend. The rapid spread of a new strain of coronavirus led countries from Germany to Canada to ban travelers from the UK.
European stocks fell in response on Monday. The pan-European STOXX 600 index was down 2%. European neighbors, including Germany, Italy and the Netherlands, ordered a suspension of flights from Britain, while the French ban also included freight carriers by road, air, sea or rail.
No wonder travel stocks got the news badly, down 5.5% in morning trading and on their way to their worst day in three months. EasyJet and IAG, owners of British Airways, both fell 9%. Oil companies also posted losses in Europe as the new restrictions weighed on concerns about falling demand, which weighed on crude oil prices. US and international benchmark crude oil prices fell around 4%.
The new coronavirus strain is up to 70% more transmissible than the original. And it couldn't come at a worse time. A Brexit trade deal is still pending, with little time to close a deal. The pound sterling fell almost 2% against the dollar on Monday. The UK-EU trade talks should resume on Monday, with just a few days left before a transition period expires at the end of the year.

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