European Markets Muted Ahead Of UK Lockdown Announcement

European Markets Muted Ahead Of UK Lockdown Announcement

22 Feb 2021 02:43 PM

European stock markets were cautious today as UK Prime Minister Boris Johnson prepares to deliver his roadmap out of the third national lockdown.

The FTSE 100 dropped 0.56% after opening, while the CAC tumbled 0.74% and the DAX was 0.93% lower.

The PM is expected to reopen schools across the country from 8 March and gradually relax rules on socialising in a public space.

The government has said it hopes to vaccinate all adults over the age of 50 by 15 April. U.K. Prime Minister Boris Johnson will set out a roadmap to ease England's third national lockdown today, having met a target to vaccinate 15 million Britons from higher-risk categories by mid-February.

The U.K. has been the bright spot in Europe in terms of the speed of its vaccination rollout, and concerns exist that continental Europe will still be locked down for some time to come.

Worries about inflation have led to rapidly rising bond yields in recent weeks, and this has concerned some equity investors as they could diminish the relative appeal of stocks.