Omicron concerns dampen Christmas trading and weigh on markets – business live

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Rolling live coverage of business, economics and financial markets as key shopping week hit by concerns over spread of new variant

Good morning, and welcome to our live, rolling coverage of business, economics, the eurozone and financial markets. Investors have their eyes on one thing this morning: just how bad is the omicron coronavirus going to be for economies across the world. UK and European stock market futures suggest that traders are rattled: the FTSE 100 is on course to fall by 1.9% on opening, while Germany’s Dax benchmark index and France’s Cac 40 are set for declines of 2.4% apiece.

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