FTSE 100 LIVE: London stocks rocket as investors snap up big tech amid US election chaos

US stocks climbed up again on Thursday as Democratic candidate Joe Biden leads in the polls against Donald Trump. The Dow Jones jumped by 1.7 percent while the S&P 500 rose by 2 percent.

The UK’s FTSE 100 increased by 0.5 percent on Thursday to 5,911 points, approximately a two-week high for the exchange.

Edward Moya told City AM: “US stocks continue to ride the unwinding of ‘blue wave’ bets, sending big-tech and healthcare stocks sharply higher.

“It seems Congress will be divided.”

He added: “Wall Street does not have to plan for corporate tax hikes, single-payer healthcare, sweeping clean energy initiatives, and massive infrastructure spending.”


10.00am update: Currency latest

The pound at 10am was 1.3140 dollars compared to 1.3121 dollars at the previous close.

The euro at 10am was 0.9021 pounds compared to 0.9002 pounds at the previous close.

9.00am update: Scottish row over furlough erupts

The Scottish Secretary has denied furlough was only extended because of the second national lockdown in England.

Alister Jack reiterated furlough is intended for the whole country, despite a backlash from politicians in Scotland and Wales who had previously been denied requests for an extension in the weeks and months before it had initially been planned to close on October 31.

8:06am update: The FTSE-100 opened unchanged

The FTSE-100 index opened at 5906.18.


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