You are here

Prices & Quotes - UK Markets - FTSE 100 (UKX)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Value:
Down 7,494.13
Change Today:
-90.88

New Covid variant triggers alarm bells around the world

By Alexander Bueso

Date: Friday 26 Nov 2021

LONDON (ShareCast) - (Sharecast News) - Authorities in the UK and many other European countries moved quickly to cut travel links with South Africa and several other countries in southern Africa following the detection of a new variant of Covid-19 with a large number of mutations on the so-called 'spike' protein.

The fear was that the large number of mutations might make the virus more transmissible and allow it to better evade vaccines.

Saijd Javid, the Secretary of State for Health and Social Care, told MPs: "We are concerned that this new variant may pose substantial risk to public health.

Although he conceded that there was no hard data yet, he went on to add: "Early indications show this variant may be more transmissible than the Delta variant, and current vaccines may be less effective against it. It may also impact the effectiveness of one of our major treatments, Ronapreve."

The variant, which had been classified as B.1.1.529, had roughly 50 mutations, including 30 on the spike protein and 10 on its receptor, Guillermo Martínez de Tejada, a professor of Microbiology at the University of Navarre, told Spanish daily ABC.

Tests to determine just how transmissible and dangerous the variant was were expected to take at least two weeks.

Martínez de Tejada highlighted that the new variant, which was expected to be dubbed 'Nu' by the World Health Organisation, had become the predominant strain in Gauteng, South Africa's smallest province, in just two weeks.

The thinking in financial markets appeared to be that, perhaps because of that, authorities in the UK, Germany, Italy and Spain had moved so quickly to impose restrictions on travel from South Africa and some of the neighbouring countries.

South African officials first reported the new strain on 23 November after a worrying number of mutations were found in samples taken between 14-16 November.

To the credit of South African scientists, the first full sequencing of the new variant's genome was completed on 11 November.

Some observers believe it very possible that the new variant came about by the infection of a person whose immune system was depressed, possibly from AIDS.

Roughly 8.2m South Africans have been diagnosed with AIDS out of a total population of approximately 60m and with the same virus highly prevalent in other countries on the same continent.

Nevertheless, some reports indicated that vaccines were piling up unused due to a lack of demand, even though according to Oxford University´s Our World In Data only 23.51% of South Africans were fully vaccinated against Covid-19 with another 4.57% only partly vaccinated.

A first case of the new variant was detected in Belgium on 22 November, in a young woman who had recently travelled unvaccinated to Egypt, via Turkey, and who had experienced flu-like symptoms around 11 days after her return.

She reportedly had not been infected with the virus previously either and did not experience severe symptoms.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Price Data

Price 7,494.13
Change Today -90.88
21-Jan-22 Close 7,494.13

Top Risers

Price Change
British American Tobacco 3,138.00p +0.8%
Burberry Group 1,925.50p +0.8%
GlaxoSmithKline 1,647.20p +0.6%
Unilever 3,675.00p +0.5%
Tesco 288.75p +0.5%
Imperial Brands 1,731.00p +0.4%
Diageo 3,757.50p +0.3%
Reckitt Benckiser Group 6,444.00p +0.3%
Avast 602.00p +0.2%

Top Fallers

Price Change
Entain 1,635.00p -5.2%
Evraz 540.60p -4.2%
Scottish Mortgage Inv Trust 1,109.50p -3.9%
Pershing Square Holdings Ltd NPV 2,770.00p -3.7%
Fresnillo 830.40p -3.6%
Pearson 659.00p -3.5%
Smith (DS) 377.50p -3.4%
Flutter Entertainment (CDI) 10,965.00p -3.3%
Rolls-Royce Holdings 119.72p -3.2%
Intermediate Capital Group 1,908.50p -3.2%