European Markets Slide As Investors Weigh Up Risks Of Delta Variant

Stocks in Europe were low on Monday as covid-19 cases in the UK continue to increase. Numerous countries are considering the introduction of travel restrictions for British citizens wanting to enter their borders.

The FTSE 100 (^FTSE) in London was down by 0.4% in noon trade, whilst the CAC (^FCHI) dropped 0.5% in France, and the DAX (^GDAXI) was 0.2% lower in Germany.

Covid-19 cases are up 59% in week-on-week figures, just seven days on from 21 June, the date on which all coronavirus restrictions across England were set to be lifted. However, the Delta variant of the virus, which was first detected in India and is understood to be more transmissible than previous strains, now makes up around 99% of reported covid-19 cases.

Sajid Javid, who was promoted to the role of UK health secretary following Matt Hanock’s recent resignation, will give an update later on when the final stage of England’s roadmap out of lockdown can be safely implemented. Currently, 19 July is the anticipated date for England’s new “freedom day”. However, the prime minister has said that there will be a data review to judge whether the final stage of unlocking could happen two weeks earlier on 5 July.

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