UK stocks lower after GDP data

UK stocks lower after GDP data

UK stocks are lower today after the ONS reported that the UK economy contracted by 2.6% in November. From Chancellor Rishi Sunak – “today’s figures highlight the scale of the challenge we face”

In the US, Joe Biden, US President-elect revealed details of a major multi-trillion dollar American Rescue Plan. The package will support businesses and includes direct payments of $1400 to families struggling in the current situation.

Markets are also digesting reports of increasing new coronavirus cases in China and further restrictions in Europe with France and Germany looking to tighten lockdown measures.

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