BUSINESS LIVE: FTSE and pound slump as Brexit talks remain in limbo;

The FTSE 100 and the pound are deep in the red this morning as a new strain of Covid prompts an escalation of the crisis gripping the nation. 

Sentiment is not being helped by more indications that the EU trade deal negotiations are at an impasse. 

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In company news, the administrators of collapsed retail group Arcadia have agreed the sale of its Evans brand, e-commerce and wholesale business to Australian firm City Chic Collective for £23million.

Mike Ashley’s Frasers retail empire has issued a profit warning, saying that previous guidance of a 20 per cent to 30 per cent boost in profits this year is unlikely to be achieved.

The Port of Dover closed to all freight vehicles leaving the UK for the next 48 hours after France imposed an inbound travel ban from 11pm last night