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(Alliance News) - South Africa on Friday said the decision by the UK to ban all flights from South Africa over a new variant of Covid-19 seemed "rushed".
This comes after local scientists on Thursday announced that they had detected a new variant called B.1.1.529.
In response, the UK imposed ban on flights from six African nations, including South Africa, due to rising concerns over a new variant.
"The government of South Africa has noted the announcement by the United Kingdom to temporarily ban all flights from the southern parts of Africa, including South Africa from entering the UK due to the detection of a new coronavirus variant B.1.1.529," the Pretoria government's international relations & cooperation department said in a statement on Friday.
"Whilst South Africa respects the right of all countries to take the necessary precautionary measures to protect their citizens, the UK's decision to temporarily ban South Africans from entering the UK seems to have been rushed as even the World Health Organisation is yet to advise on the next steps," the department said.
South Africa will try to persuade Westminster to reconsider the decision, it said.
Meanwhile, the EU will propose banning travel from southern Africa as well, EU chief Ursula von der Leyen said on Friday.
The EU's executive "will propose, in close coordination with member states, to activate the emergency brake to stop air travel from the southern African region due to the variant of concern B.1.1.529," Von der Leyen tweeted.
Germany will ban most travel from South Africa and "probably neighbouring nations" starting Friday night, acting Health Minister Jens Spahn said.
Here is what you need to know at the London market open:
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MARKETS
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FTSE 100: down 3.3% at 7,072.86
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Hang Seng: down 2.6% at 24,095.76
Nikkei 225: closed down 2.5% at 28,751.62
S&P/ASX 200: closed down 1.7% at 7,279.30
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US markets shut on Thursday, re-opening for half-day on Friday.
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EUR: up at USD1.1231 (USD1.1211)
GBP: down at USD1.3289 (USD1.3321)
USD: down at JPY114.18 (JPY115.34)
Gold: up at USD1,807.30 per ounce (USD1,789.81)
Oil (Brent): down at USD78.77 a barrel (USD81.92)
(changes since previous London equities close)
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ECONOMICS AND GENERAL
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Friday's key economic events still to come
1000 CET EU monetary developments in euro area (M3)
1300 EST US financial markets close early on day after Thanksgiving.
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French Interior Minister Gerald Darmanin told UK counterpart Priti Patel on Friday he was scrapping planned weekend talks with her, in protest at a letter made public by Prime Minister Boris Johnson on the migrant crisis. In a message seen by AFP, Darmanin told Patel the letter from Johnson to President Emmanuel Macron suggesting France takes back migrants who cross the Channel was a "disappointment". Referring to Johnson's posting of the letter on social media, he added: "Making it public made it even worse. I therefore need to cancel our meeting in Calais on Sunday." France was planning to host ministers from all Channel littoral states, including Patel, for a crunch meeting on the migrant crisis in Calais on Sunday, after 27 migrants lost their lives this week off the French coast in the deadliest such disaster. A source close to Darmanin told AFP that the meeting would be going ahead with the ministers from other European countries but added Patel was no longer invited after Johnson's "unacceptable" letter.
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BROKER RATING CHANGES
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RBC CUTS SSE TO 'SECTOR PERFORM' (OUTPERFORM) - PRICE TARGET 1,800 (1,900) PENCE
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UBS RAISES EASYJET TO 'BUY' (NEUTRAL) - PRICE TARGET 760 PENCE
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RBC RAISES ALPHA FINANCIAL MARKETS CONSULTING TARGET TO 440 (360) PENCE 'OUTPERFORM'
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COMPANIES - FTSE 100
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Drinks maker Diageo will start on Friday the next tranche of its return of capital programme of up to GBP4.5 billion to shareholders by June 2024. The first phase, completed in January 2020, saw over GBP1.25 billion returned to shareholders, with the second phase ending earlier in November and returning GBP450 million. Now, the third phase, Diageo is looking to buy back up to GBP550 million worth of shares by March 4, 2022.
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COMPANIES - FTSE 250
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Chemicals firm Synthomer said it has hired Lily Liu, the chief financial officer of Essentra, to run its own finances. Liu will take up her new role at Synthomer on July 1, 2022, replacing outgoing CFO Steve Bennett.
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Essentra said it will look for a new finance chief to lead its Components business, as it continues its restructuring process. The company, which manufactures plastic caps, workholding clamps, fasteners and knobs, has simplified its portfolio over the past few years. On Friday, it said it has launched a strategic review of its Packaging division. This follows a similar move at the end of October when Essentra decided to review a full range of strategic options for the Filters business. Both reviews are expected to end in the second quarter of 2022, with Essentra aiming to become a "pure play global components" business over time.
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SSP has hired Greencore's chief executive to be its next boss, the food and beverage outlets operator said late Thursday. SSP, which operates chains including Upper Crust in travel locations, said it has appointed Patrick Coveney as CEO, effective March 31, 2022. He joins from Greencore, a producer of convenience foods in the UK and Ireland, where Coveney has been CEO since 2008. SSP back in July reported that CEO Simon Smith would be leaving at the end of 2021. Jonathan Davies, in his role as deputy CEO and chief financial officer, will oversee day-to-day business prior to Coveney joining. Greencore, in its own statement, said the search for his replacement will start immediately. Gary Kennedy, non-executive chair of Greencore, will move to an executive role until a new CEO is found. Chief Commercial Officer Kevin Moore will assume the role of deputy CEO with immediate effect.
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COMPANIES - MAIN MARKET AND AIM
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Recycling Technologies set the price range for its initial public offering on AIM at 150 to 170 pence per share, which would give the company a market capitalisation of GBP102 million to GBP111 million. Recycling Tech said it is aiming to raise up to GBP40 million for the company from the IPO, which will create a 70% free float. The IPO is being led by Stifel Nicolaus. Pricing is expected on December 9 and the start of trading on December 16. The Swindon-based company turns plastic waste into feedstock for new plastic production to help create a circular economy.
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COMPANIES - GLOBAL
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The UK Competition & Markets Authority said it has secured improved commitments from Alphabet's Google on proposals to remove third-party cookies and other functions from its Chrome browser. Back in June, the UK regulator had said it would take up a role in the design and development of Google's Privacy Sandbox proposals to ensure they do not distort competition. "It has been investigating Google's proposals since the start of the year due to concerns that, without the Competition & Markets Authority's involvement, Google's alternatives could be developed and implemented in ways that impede competition in digital advertising markets," the CMA said Friday. The CMA said the proposals could cause advertising spending to become even more concentrated on Google. "The CMA's intervention, and the improved commitments, are designed to ensure that Google's proposals can improve privacy without adversely affecting competition, which would be to the detriment of users," it said. CMA Chief Executive Andrea Coscelli said: "If accepted, the commitments we have obtained from Google become legally binding, promoting competition in digital markets, helping to protect the ability of online publishers to raise money through advertising and safeguarding users' privacy."
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Regulators in China have asked ride-hailing giant Didi to draw up a plan to de-list from the US stock market over data concerns, Bloomberg reported, as Beijing continues its tight scrutiny of domestic tech giants. Over the past year, several of the country's biggest companies – including Alibaba, Tencent and Meituan – have been swept up in a regulatory crackdown that has clipped the wings of major internet firms wielding massive influence on consumers' daily lives. A mammoth New York debut in June for Didi Chuxing was quickly overshadowed by an investigation by the Chinese cyber watchdog on the grounds of cybersecurity, launched just days after the listing. Bloomberg said Chinese regulators now want Didi's executives to take the company off the New York Stock Exchange over worries about sensitive data leakage, citing people familiar with the matter. Privatisation or a share float in Hong Kong are among options.
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Friday's shareholder meetings
Base Resources Ltd - AGM
Future Metals NL - AGM
Greencoat UK Wind PLC - GM re proposal of new ordinary shares
JD Sports Fashion PLC - GM re share sub-division
Oilex Ltd - AGM
Oncimmune Holdings PLC - AGM
Quadrise Fuels International PLC - AGM
Salt Lake Potash Ltd - AGM
ScS Group PLC - AGM
Sylvania Platinum Ltd - AGM
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By Tom Waite; thomaslwaite@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
