And if that wasn’t enough for Christmas week, the EU appears poised to impose a travel ban on Britain to stop the spread of a mutant strain of coronavirus, which has put 18 million people in the south -est of England under lockdown and forced ports to close. FTSE futures show a decline of 1.6% 30 minutes before the open.
5 things to start your day
1) Retailers are asking for more help as level 4 threatens further job losses. Stores are hemorrhaging money in London and the South East, at what is normally their busiest shopping time of the year.
2) Deloitte is one of the 18,000 victims of SolarWinds hacks. Computer giant Cisco was also hit by a massive cyberattack that reportedly gave Russia access to U.S. government documents for nine months.
3) The Shell crew ran aground on oil tankers for Christmas. The crew will be stranded at sea until January 4 to prevent the spread of Covid.
4) Businesses ask when the pain will end. Retailers are on their knees as customers return orders and stores close again after Boris Johnson canceled Christmas.
5) Universities must fight to survive the winter. Classes and campuses could disappear, with some institutions fighting to avoid bankruptcy after the government dodged a bailout.
What happened during the night
Asian stocks fell and the British pound slipped on Monday as unease over a new strain of coronavirus that was shutting down much of the UK undermined news that a deal had finally been reached on a stimulus bill long-awaited American.
The pound fell 1.2 pc to $ 1.3352 after several European countries closed their borders with the UK as the country entered a tighter lockdown to fight a new strain of coronavirus.
Prime Minister Boris Johnson will chair an emergency response meeting on Monday to discuss international travel and the flow of goods to and from Britain.
This combined with the lack of a Brexit deal to cut FTSE futures by 1.1%, while EUROSTOXX 50 futures lose 1.7%.
The largest MSCI index of Asia-Pacific stocks outside of Japan fell 0.2pc after hitting a series of record highs last week. Japan’s Nikkei canceled the initial gains to retreat 0.4%, its highest level since April 1991.
Company: AGA de l’IWG
Economy: CBI Distributive Trade Survey (UK); consumer confidence (euro zone)