Ggood morning. The FTSE 100 is set to open steadily in red as virus cases continue to rise.
After the positive vaccine news bolstered earlier in the week, investors are turning their attention once again to the immediate virus issues.
5 things to start your day
1) Sales of bars and restaurants fell by a third in October: The latest data revealed that strict coronavirus-related restrictions across the UK caused sales in bars and restaurants to drop by a third in October.
2) Sunak drops stimulus tip as economic recovery fades: Sunak is preparing to reignite consumer spending with a fresh billions of GBP giveaway drive after the economic recovery has nearly stalled.
3) New Asda owners sell a stake in the Forward Squares Empire: The gasoline pumping tycoons who bought Asda last month for £ 6.8 billion have amassed hundreds of millions by selling a stake in their EG Group business.
4) National Express to take students home for Christmas: National Express, which has dubbed “Operation Chris Rey,” will lead the mass deportations of college students to go home safely this Christmas.
5) The head of Standard Life Aberdeen insists that desks are essential: Stephen Bird launched an attack on the full-time work at home, saying it was vital to new ideas, in the city increasingly divided over the future of the office.
What happened overnight
Shares in Asia plummeted on Friday, following the sell-off in the United States and Europe as investors feared the economic impact of the accelerating rise in coronavirus cases.
US Federal Reserve Chairman Jerome Powell said on Thursday, during a discussion with other central bankers, that progress in developing a vaccine for the Coronavirus is good news, but economic risks in the near term remain as infections accelerate, confirming the potential need for government stimulus. additional.
Against this bleak background, the MSCI Asia Pacific Index of broadest stocks outside of Japan fell 0.25% in early trade as stocks tumbled across the region.
Leading Chinese stocks led the losses, down 1.21%. Australian shares lost 0.47 percent, the Kospi in Seoul slid 0.16 percent and the Hang Seng 0.55 percent.
Japan’s Nikkei 225 index fell 0.95%.
Some investors saw a buying opportunity in the recession.
Is coming today
Company: There are no FTSE 350 companies scheduled to report.
Economics: Second estimate of GDP (Euro-zone) ; Producer Prices (we)