FTSE 100 to rebound as oil rallies despite worries over Omicron variant – business live

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South Africa’s rand has recovered some of Friday’s losses, when it tumbled to a one-year low after the new Covid-19 variant spooked investors.

Reuters has the details:

South Africa’s rand firmed early on Monday, recovering from last week’s plunge to its lowest since October 2020 on concerns around the discovery of a COVID-19 variant in the country that has been described as the most concerning.

Stock markets also recovered, after hospitality shares fell sharply on the news a host of countries would bar travel from southern Africa, hitting hopes of a bumper season for a tourism industry hurt badly by the pandemic.

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