Shares of industrial and transportation companies fell amid concerns about the outlook for global growth, given dire warnings from U.K. Prime Minister Boris Johnson about a new variant of Covid-19.

Factories and service-industry companies indicated a pickup in U.S. business activity early this month, with an index of manufacturing reaching a decade-high of 59.1, according to the research firm IHS Markit.

German manufacturing giant Siemens said preliminary earnings and sales for the first quarter of its financial year were broadly ahead of market expectations, reflecting growing demand for its engineering-related digital offerings.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

01-22-21 1710ET