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 ready to open within the purple following studies that London is ready to be positioned beneath tier two restrictions as early as Friday, that means totally different households will be unable to satisfy in any indoor settings.

Nations throughout Europe are tightening restrictions as virus instances 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 colleges, bars and eating places.

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

Nonetheless, Germany is taking a soft-touch method 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 might 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 technology.

2) Hedge fund circles British Airways proprietor: One in every 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 Massive 4 accountant is alleged to have resigned from the place with fast impact as a result of governance issues.

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

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

What occurred in a single day 

International shares slipped on Thursday as buyers locked in latest good points 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.

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

Developing in the present day

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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