Wall Street collapses as virus fears grow – live updates


gHello. European stocks are expected to decline as tighter virus-induced restrictions take effect across the continent. Italy has introduced its toughest restrictions since May, including a 6 p.m. curfew in bars and restaurants and forcing gyms to close, while Spain has imposed a national curfew at 11 p.m.

5 things to start your day

1) The government struck a £ 119million advertising deal with Covid weeks before the first lockdown: The Cabinet Office signed the lucrative contract with London-based OMD Group as the government began preparing its response to the crisis.

2) UK-US trade deal can’t go through if Brexit talks fail: Any trade deal with the US will likely depend heavily on Britain concluding an exit deal with the EU, said Barbara Weisel, former US deputy trade representative.

3) Rolls-Royce promises production overhaul to secure £ 2bn lifeline: The shareholders are pushing to see the engineer go from an “empire to a real company”.

4) Building 22 Bishopsgate is not a mistake, says Axa’s real estate boss: Although this is a traumatic time for offices, Isabelle Scemama insists that having a brand new 62-story skyscraper will be an asset despite the pandemic.

5) Starling founder Anne Boden reveals breakup with Monzo chef Tom Blomfield in new book: Excerpts from the veteran banker’s memoir paint a picture of his former partner as naïve and immature.

What happened during the night

Asian stocks were little changed in muted trading on Monday amid widespread uncertainty over what the US presidential election will portend for markets and economic policy.

Investors remain concerned about the surge in Covid-19 cases and deaths, particularly in parts of the United States and Europe, and the implications for trade, tourism and economic activity.

The Japanese benchmark Nikkei 225 lost 2 points to 23,514.41, while South Korean Kospi lost 0.4 pc to 2352.37. The Australian S & P / ASX gained 0.1 pc to 6,173.20. The Shanghai Composite Index fell 0.7 pc to 3,254.54. The markets in Hong Kong, India and Malaysia were closed for the holidays.

Coming today

No FTSE 350 company is reporting today.


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