FTSE 100 falls as Covid-19 fears outweigh hopes for a Brexit deal from Boris Johnson

That makes crashing out on World Trade Organisation terms less likely, although it adds yet more uncertainty to businesses and increases the risk that bosses will fail to prepare for a No Deal scenario.

Many companies have not taken evasive action for No Deal, hoping instead that the politicians would not be irrational enough for such an outcome. With many already haemorrhaging cash due to the pandemic, saving money on unnecessary planning is understandable, if risky.

Uppermost in most traders minds today was the spread of lockdowns across the UK and Europe, which was driving them to predict another weak day for markets.

The FTSE-100 was being called down 28 points at 5907 by CMC Markets, with Germany's Dax down 80 at 12948 and France's Cac-40 off 29 at 4912.

France last night extended lockdowns across eight cities including Paris, with 9pm curfews imposed. Northern Ireland set out a four week lockdown and Wales closed its border with England.

Splits on the issue grew in the UK as Labour's Keir Starmer continued calling for a "circuit breaker" lockdown across the country. That has met resistance from people in areas with low infections who see it as pointlessly impinging on the population's liberty, killing businesses and causing yet more unemployment.

Fans of the policy say it would be good for the economy in the long run if it meant beating the pandemic quicker.

US weekly job loss figures out later today should show a fall from 840,000 to 810,000 and European Central Bank chief Christine Lagarde will be talking at the combined International Monetary Fund-World Bank meetings.

British Airways owner IAG may see a much-needed improvement in its share price after hedge fund Marshall Wace bought stock, presumably in a bet that the group has reached a trough from which the only way is up. Investors in other airlines such as easyJet may now hope for similar analysis.

ITV's shares continued their recovery yesterday after UBS analysts predicted advertising might not be as bad as previously feared this autumn. Investors will be eyeing whether that share price momentum can continue.