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European shares tumble on tighter COVID-19 curbs in UK, Brexit uncertainty

Published 12/21/2020, 04:24 PM
Updated 12/21/2020, 04:30 PM
© Reuters.
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Dec 21 (Reuters) - European shares slumped on Monday as the
rapid spread of a new strain of the coronavirus led to a more
stringent lockdown in England and a travel ban from many
countries, while a Brexit trade deal still hung in the balance.
After ending last week higher, the pan-European STOXX 600
index .STOXX slid 2.3% after UK imposed an effective lockdown
and reversed plans to ease curbs over Christmas as it dealt with
a new coronavirus strain up to 70% more transmissible than the
original. Canada as well as European neighbours, including Germany,
Italy and the Netherlands, ordered a suspension of flights from
Britain, while France's ban also included freight carriers,
whether by road, air, sea or rail. Worries about the fresh hit to an economic recovery saw
London's FTSE .FTSE drop 2.1% even as the pound GBP= sank.
Germany's DAX .GDAXI was down 2.3% .L
Travel and leisure stocks .SXTP shed 5.5% and were on
course for their worst day in three months, while oil majors
.SXEP led losses in Europe as new restriction spurred worries
about a hit to demand and weighed on crude prices. O/R



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