Bearish sentiment is dominating the markets as stocks, oils and metals are enduring large declines.
Equity markets are down this afternoon as Stephane Bancel, the CEO of Moderna, cautioned that existing Covid-19 vaccinations might struggle to contain the omicron strain of the virus.
The mood in the markets today is very different to what was seen last Friday when traders were running for the hills due to renewed concerns about the pandemic.
US retail sales rose more than expected in October due to Americans starting holiday shopping early with some merchandise in short supply as
Oil prices continued their decline at the beginning of the week's trading
The strong performance in mining, energy and banking stocks is helping the FTSE 100 to outperform.
Gold prices jumped during today's trading, reaching its highest level in more than two months, around the levels of $1,830 an ounce, following the data of the Producer Price Index in the United States,
It has been a quiet start to the week following the exciting moves seen in the markets last week. The actions of the Federal Reserve and Bank of England pushed up stocks, and Friday’s US non-farm payrolls report was the icing on the cake.
Last month the Associated British Foods (ABF) share price fell to an 11 month low as the company confirmed that its clothing division, Primark, experienced lower than expected sales during the summer.
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