The spread of the Delta variant in the US and other part of the world is weighing on US markets and affecting all the other financial hubs. However, while traditional American stocks took a nosedive due to the growing lists of threats to growth, the Nasdaq rose slightly and set a new record.

Investors are also concerned by yesterday’s announcement of tax rises by Finance Minister Rishi Sunak to fund health and social care.

Meanwhile, Morrison Supermarkets announced today that it is in talks over a possible auction to sort the bidding war between Clayton Dubilier & Rice and a consortium led by Fortress Investment Group.

Smiths Group jumped 4.5% after agreeing to sell its medical unit to ICU Medical Inc for $2.4 billion.

Among the biggest losers, Barclays and Lloyds Banking Group fell 1.4% and 1.3%, respectively, after Morgan Stanley revised down its price targets on the stocks.

After TransDigm Group withdrew its offer, Meggit dropped more than 10% yesterday.

 

Things to read:

UK Regulator calls for greater powers against risky crypto ventures (Financial Times)

An $11 Billion Distraction for China’s Chip Ambitions (Bloomberg)

Brussels to issue ‘Covid green bonds’ as part of pandemic recovery effort (Financial Times)