BUSINESS LIVE: FTSE tumbles amid new lockdowns


BUSINESS LIVE: FTSE tumbles amid new lockdowns; Countrwide agrees takeover offer; FirstGroup sells three properties

The FTSE 100 plunged on New Year’s eve and Britain’s last day as a member of the European Union. The index fell more than 1 per cent in early trading, as the country entered stricter lockdowns from today.  

But Asian shares edged up overnight and were set to end a tumultuous 2020 at record highs, after growing investor hopes for a global economic recovery caused the dollar to fall further against most major currencies. 

Estate agent Countrywide has agreed a sweetened takeover offer from rival Connells that values the company at about £224million. It is the second time Connells has raised its bid after previously offering a 325p per share bid earlier this month.

FirstGroup has said it has sold properties in Los Angeles and Denver, Colorado related to its Greyhound bus service for £102million as it looks to cut costs from the struggling US intercity business. 

The FTSE 100 started the last day of the year in the red, falling more than 1% in early trading


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