FTSE 100 LIVE: British FTSE index to open 27 points LOWER amid coronavirus and Brexit fear

The UK blue-chip index closed 1.1 percent lower on Tuesday as worries about a second wave of coronavirus curbs across parts of Britain offset the impact of progressin Brexit talks and positive results from HSBC.

Meanwhile, Oil prices slid around 2 percent giving up most of the previous day’s gains.

A surge in US crude stocks and growing coronavirus infections in the UnitedStates and Europe fanned fears of a supply glut in oil and weaker fuel demand.

Gold prices stayed above the $1,900-mark, as uncertainties about US elections and surging global coronavirus cases countered pressure from a firmer dollar and fading hopes of an immediate US stimulus package.

Elsewhere, Daimler unit Mercedes-Benz is to lift its stake in Britain’s Aston Martin to up to 20 percent by 2023, making it one of the struggling British carmaker’s largest shareholders, Aston Martin said.


12.05pm update: Euro dips on French lockdown fears

The dollar rose against the euro on prospects of a national coronavirus lockdown in France.

President Emmanuel Macron will give a televised address on Wednesday, amid media reports that the French government may impose a lockdown from midnight on Thursday.

The European Commission proposed on Wednesday a series of new measures to fight the COVID-19 pandemic in the European Union, saying the new spike in infections on the continent was “alarming”.

10.45am update: FTSE recovers slightly

The FTSE-100 index at 10:45am was down 81.05 at 5647.94.

9.45am update: FTSE-100 down

The FTSE-100 index at 9:45am was down 91.47 at 5637.52.

9.00am update: Expert comments on global markets

John Woolfitt, director of trading at Atlantic Capital Markets, warned of uncertainty.

He said: ”Global markets look incredibly nervous, the mix of rising COVID-19 cases and deaths and the potential full lockdown in France, add this to the uncertainty ahead of the US elections and you have a very poor backdrop.

“I don’t expect this to be long-term, but nervousness will continue until elections are done and some form of steadying in the COVID-19 numbers.”

8.15am update: FTSE-100 falls

The FTSE-100 index at 8:15am was down 109.38 at 5619.61.


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