FTSE 100 Tumbles On Virus Worries

U.K. stocks fell sharply on Monday as worries about the fast-spreading Delta variant coronavirus overshadowed investor optimism about England's reopening.

Almost all legal restrictions will end from today, including an order to work from home.

U.K. Prime Minister Boris Johnson was self-isolated after contact with Health Secretary Sajid Javid, who had tested positive for coronavirus on Saturday.

Although No 10 initially said that he would continue to work by participating in a pilot scheme, he later announced that he would be self-isolating as required.

Finance minister Rishi Sunak will also self-isolate after being in close contact with Javid.

The benchmark FTSE 100 fell 111 points, or 1.6 percent, to 6,896 after closing 0.1 percent lower on Friday.

Travel-related stocks succumbed to selling pressure after Britain announced that it is lifting planned mitigation measures against the spread of coronavirus for visitors from France, due to the continued presence of a beta variant of coronavirus first spotted in South Africa.

Carnival lost 7.5 percent, easyjet slumped 5.1 percent and British Airways-owner IAG gave up 4 percent.

Online shopping giant Ocado tumbled 3 percent after a robot malfunction at a warehouse in in South-East London caused a conflagration that took around 100 firefighters 14 hours to put out.

Derwent London fell over 2 percent. The company said it has exchanged contracts to sell its freehold interest in Angel Square, Islington to Tishman Speyer for 86.5 million pounds before costs.

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