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UK signaled new quarantine


September, 22 2020
watermark Economic news

On Tuesday, the UK said it intends to abandon the return of people to their usual jobs in an attempt to contain the rapidly growing second wave of Covid-19 in the country.


In addition to imposing curfews for pubs and restaurants, Prime Minister Boris Johnson called on the population to switch to remote work. Such statements may indicate that the country is moving towards expanding the tough social distancing measures introduced in the spring.


On the news, stocks in UK travel and leisure companies began to decline before they bounced back from the crisis (Ryanair, International Airlines Group and Air France). KLM shares plunged 4-5%, while shares in aerospace suppliers Meggitt, Senior and Rolls-Royce tumbled for the last to hit another new low for the year.


The British company Whitbread, which operates a chain of hotels and restaurants, announced today plans to cut 18% of its staff, or about 6 thousand jobs. The company's shares fell 3.5%, having lost more than half of their value this year.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.