<p class="bodytext">European stocks, oil prices and the pound slumped Monday as a highly infectious strain of coronavirus in Britain had traders seeking shelter.</p>.<p class="bodytext">Sterling lost 1.3 per cent against the dollar, with the pound also still being hit as a post-Brexit trade deal between Britain and the EU remained out of reach.</p>.<p class="bodytext">The euro gained 1.0 per cent against the pound, while oil prices slipped by more than 4.0 per cent.</p>.<p class="bodytext">"The short-term crude demand outlook just got dealt a massive blow that will provide added uncertainty over the next couple of months," remarked Edward Moya, a senior analyst with the online broker Oanda.</p>.<p class="bodytext">British Prime Minister Boris Johnson chaired a crisis meeting as a growing number of countries blocked flights from Britain over a new coronavirus strain that the UK said was "out of control".</p>.<p class="bodytext">It overshadowed positive news from Washington, where US lawmakers reached a deal for a nearly $900 billion Covid-19 financial rescue package to help struggling Americans.</p>.<p class="bodytext">"The US got its stimulus package through but it seems that was largely priced in and investors are more concerned with the new strain of Covid-19," Oanda analyst Craig Erlam told AFP.</p>.<p class="bodytext">"Coming at a time when another Brexit deadline has been missed... it's no surprise to see sentiment taking a big hit."</p>.<p class="bodytext">The US announcement came as a relief to markets desperate for Washington to give the world's top economy a much-needed boost as it struggles with the impact of Covid-19.</p>.<p class="bodytext">At the weekend, US authorities also gave the green light to another vaccine produced by Moderna, paving the way for it to be rolled out this week.</p>.<p class="bodytext">"We expect the New Year wish of many market participants to be that the arrival and initial distribution of coronavirus vaccines now signals light at the end of a very tiring and debilitating tunnel," said Simon Ballard at First Abu Dhabi Bank.</p>.<p class="bodytext">A post-Brexit trade deal meanwhile seemed no closer, with UK-EU talks edging ahead after missing another deadline, overshadowed by the transport chaos caused by the new virus variant.</p>
<p class="bodytext">European stocks, oil prices and the pound slumped Monday as a highly infectious strain of coronavirus in Britain had traders seeking shelter.</p>.<p class="bodytext">Sterling lost 1.3 per cent against the dollar, with the pound also still being hit as a post-Brexit trade deal between Britain and the EU remained out of reach.</p>.<p class="bodytext">The euro gained 1.0 per cent against the pound, while oil prices slipped by more than 4.0 per cent.</p>.<p class="bodytext">"The short-term crude demand outlook just got dealt a massive blow that will provide added uncertainty over the next couple of months," remarked Edward Moya, a senior analyst with the online broker Oanda.</p>.<p class="bodytext">British Prime Minister Boris Johnson chaired a crisis meeting as a growing number of countries blocked flights from Britain over a new coronavirus strain that the UK said was "out of control".</p>.<p class="bodytext">It overshadowed positive news from Washington, where US lawmakers reached a deal for a nearly $900 billion Covid-19 financial rescue package to help struggling Americans.</p>.<p class="bodytext">"The US got its stimulus package through but it seems that was largely priced in and investors are more concerned with the new strain of Covid-19," Oanda analyst Craig Erlam told AFP.</p>.<p class="bodytext">"Coming at a time when another Brexit deadline has been missed... it's no surprise to see sentiment taking a big hit."</p>.<p class="bodytext">The US announcement came as a relief to markets desperate for Washington to give the world's top economy a much-needed boost as it struggles with the impact of Covid-19.</p>.<p class="bodytext">At the weekend, US authorities also gave the green light to another vaccine produced by Moderna, paving the way for it to be rolled out this week.</p>.<p class="bodytext">"We expect the New Year wish of many market participants to be that the arrival and initial distribution of coronavirus vaccines now signals light at the end of a very tiring and debilitating tunnel," said Simon Ballard at First Abu Dhabi Bank.</p>.<p class="bodytext">A post-Brexit trade deal meanwhile seemed no closer, with UK-EU talks edging ahead after missing another deadline, overshadowed by the transport chaos caused by the new virus variant.</p>