Overnight, FTSE climbed 0.6 percent, driven by a 5.7 percent hop in London-recorded portions of Simply Eat Takeaway.com NV JETJ.L as the food-requesting firm detailed a 46 percent bounce in its requests during the second from last quarter. The mid-cap FTSE 250 .FTMC additionally increased 0.6 percent, with polymer creator Synthomer Plc SYNTS.L flooding 21.9 percent after it announced an interval profit and raised its 2020 EBITDA standpoint.
“The market is estimating in about 40 percent for a no-bargain and 60 percent for an arrangement and today could be the day,” said Sebastien Galy, senior large scale tactician at Nordea Resource The executives in Luxembourg.
“There’s next to no expectation that something is being accomplished and the fact is whether Boris Johnson is happy to offer this to his gathering just like a triumph.”
Today’s crucial EU leaders’ summit will come after Boris Johnson “expressed his disappointment” about the progress of Brexit trade deal negotiations in a call with EU leaders.
Speaking with European Commission president Ursula von der Leyen and European Council president Charles Michel, the Prime Minister said he will reflect on the outcome of this week’s EU’s summit before setting out the UK’s next steps.
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10am update: Currency latest
The pound at 10am was 1.2942 dollars compared to 1.3020 dollars at the previous close.
The euro at 10am was 0.9044 pounds compared to 0.9029 pounds at the previous close.
8.20am update: FTSE plummets on open
FTSE has fallen more than 2% on open, despite positive indicators overnight.
The UK index has dropped from 5,935 to 5,815 – a loss of 119 points (2.1%).
7.45am update: Ryanair cuts major routes
Ryanair is to axe more than one in three of its flight routes this winter due to low demand amid coronavirus travel restrictions across Europe.
The budget airline announced that it will only maintain up to 65% of its route network between November and March.
It will close its bases in Cork and Shannon, both in Ireland, and Toulouse in France during the five-month period.
Routes that do survive will be served with a lower frequency of flights than normal.
More to follow…