FTSE dives as Europe tightens restrictions – stay updates

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FTSE dives as Europe tightens restrictions – live updates


Good morning. The FTSE 100 is about to open within the purple following experiences that London is about to be positioned beneath tier two restrictions as early as Friday, that means totally different households won’t be able to fulfill in any indoor settings.

International locations throughout Europe are tightening restrictions as virus circumstances proceed to rise.

France introduced a curfew in Paris and different cities, Eire put an finish to all family visits, whereas Northern Eire clamped down additional, closing faculties, bars and eating places.

In Britain, Better Manchester and Lancashire are additionally set to be positioned on the best degree of restrictions, which might see giant swathes of the hospitality trade shut in these areas.

Nevertheless, Germany is taking a soft-touch strategy and is urging residents to double down on hygiene and social distancing guidelines. 

Chancellor Rishi Sunak warned on Wednesday {that a} new “circuit break” lockdown would inflict horrible hurt on the UK and precipitate a brand new “financial emergency”. 

5 issues to start out your day 

1) Asos fears recession may dent demand: The quick vogue retailer warned that swathes of it younger clients could also be unable to afford quick vogue as Covid wrecks the fortunes of a era.

2) Hedge fund circles British Airways proprietor: Considered one of Britain’s strongest hedge funds has taken a significant stake in BA proprietor IAG because the flag provider braces for a turbulent winter.

3) Deloitte quits as auditor of Issa brothers’ petrol station chain EG Group: The Large 4 accountant is alleged to have resigned from the place with fast impact as a consequence of governance issues.

4) Ocado depot plan in London derailed by locals’ intervention: Ocado has misplaced the correct to open a brand new depot in north London after the native council dominated {that a} planning utility was deceptive.

5) Why China is successful the pandemic: President Xi Jinping needs Shenzen to change into a technological powerhouse to problem Silicon Valley.

What occurred in a single day 

World shares slipped on Thursday as buyers locked in latest positive factors amid rising issues about resurgent Covid-19 infections and after the US Treasury Secretary dashed any remaining hopes of a stimulus package deal earlier than the November 3 presidential election.

MSCI’s broadest index of Asia-Pacific shares exterior Japan misplaced 0.5pc whereas Japan’s Nikkei dropped 0.5pc.

US S&P 500 futures sagged 0.27pc in Asia after main US inventory indexes ended the earlier session decrease, with the S&P 500 closing down 0.7pc and the Nasdaq Composite Index shedding 0.8pc.

Disappointing quarterly outcomes from Financial institution of America and Wells Fargo led the S&P 500 banks index 2.4pc decrease.

Considerations {that a} resurgence within the pandemic may lead governments to once more shut down economies spurred revenue taking, notably after the latest inventory rally.

Arising at the moment

Buying and selling assertion Countryside Properties, Domino’s Pizza, Dunelm, Hays, Mondi, Rathbone Brothers

Economics Inflation (China); EU Council assembly day one in every of two; jobless claims (US)

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