FTSE dives as Europe tightens controls – live updates
G.morning. The FDSE100 is set to open in red following reports that the London plot is to be placed under two restrictions early on Friday, meaning no different homes can meet in any interior setting.
Countries across Europe are tightening controls as virus cases continue to rise.
France announced a curfew order in Paris and other cities, while Ireland put an end to all home visits, while Northern Ireland stumbled further and closed schools, bars and restaurants.
In the UK, Greater Manchester and Lancashire are also to be placed under the highest level of control, which will cover large areas of the hospitality sector in those regions.
However, Germany is taking a soft-touch approach and urging citizens to double down on health and social distance rules.
President Rishi Sunak on Wednesday warned that a new “circuit breaker” lock would cause terrible harm in the UK and create a new “economic emergency”.
5 things to start your day
1) Azos fears the recession may reduce demand: The fast fashion retailer warned that young customers may not be able to buy fast fashion as Covid destroys the fortunes of a generation.
2) Hedge Financial Circles is owned by British Airways: One of Britain’s most powerful hedge funds, the PA owner has taken a major stake in the IAG as flag carrier braces for the turbulent winter.
3) Deloitte has resigned as auditor of the Isa Brothers petrol station chain EG Group: The Big Four accountant is said to have resigned immediately due to management concerns.
4) The Okado Depot project in London was thwarted by the intervention of local people: Okado lost the right to open a new depot in north London after a local council ruled that a planning application was invalid.
5) Why China won the epidemic: President Xi Jinping wants Shenzhen to become a technological force to challenge the Silicon Valley.
It happened overnight
Global stocks fell on Thursday as investors locked up recent gains after the US Treasury Secretary tore down confidence in the rest of the stimulus package ahead of the November 3 presidential election.
The broadest index of MSCI’s Asia-Pacific stocks lost 0.5p outside Japan, while Japan’s Nikkei fell 0.5p.
The US S&P 500 futures fell 0.27 pc in Asia, the S&P 500 0.7 pc and the Nasdaq Composite Index fell 0.8 pc after previous US session indices ended lower.
Bank of America and Wells Fargo’s quarterly results were deceived by the S&P 500 banks’ index low of 2.4 pc.
Concerns that a resurgence of epidemics could lead governments to shut down economies, especially after the recent stock rally, turned a profit.
Coming up today
Business Report Rural Properties, Domino’s Pizza, Dunelm, Hayes, Monty, Rathfone Brothers
Economy Inflation (China); EU Council Meeting Day One Two; Unemployment Claims (US)