Pound falls and £33billion wiped off FTSE 100 as markets react to Europe's UK travel bans

MORE than £33billion has been wiped off the FTSE 100 within minutes of opening this morning as many European countries ban UK travellers over fears of a mutant coronavirus strain.

Tougher lockdown restrictions for London and much of the south east of England plus a Brexit talk deadlock has knocked 1.8% off Britain's leading companies.

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The pound has also plummeted by 1.9% against the dollar this morning, falling to $1.3278.

Meanwhile, the euro has jumped 1.4% against sterling.

Prime Minister Boris Johnson will chair a crisis Cobra meeting today.

On the FTSE 100, British Airways owner International Airlines Group has been hit the hardest, falling 9%, while engine maker Rolls-Royce Holdings PLC dropped 7.8%.

More to follow…

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