FTSE 100 LIVE: British FTSE index to open 27 points LOWER amid coronavirus and Brexit fear

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The UK blue-chip index closed 1.1 percent lower on Tuesday as worries about a second wave of coronavirus curbs across parts of Britain offset the impact of progress in Brexit talks and positive results from HSBC.

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Meanwhile, oil prices slid around 2 percent giving up most of the previous day’s gains.

A surge in US crude stocks and growing coronavirus infections in the UnitedStates and Europe fanned fears of a supply glut in oil and weaker fuel demand.

Gold prices stayed above the $ 1,900-mark, as uncertainties about US elections and surging global coronavirus cases countered pressure from a firmer dollar and fading hopes of an immediate US stimulus package.

Elsewhere, Daimler unit Mercedes-Benz is to lift its stake in Britain’s Aston Martin to up to 20 percent by 2023, making it one of the struggling British carmaker’s largest shareholders, Aston Martin said.

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FTSE 100 LIVE: British FTSE index to open 27 points LOWER amid coronavirus and Brexit fear

FTSE 100 LIVE: British FTSE index to open 27 points LOWER amid coronavirus and Brexit fear (Image: GETTY)

1.35pm update: FTSE continues to struggle

The FTSE-100 index at remains significantly down as it suffers its worst day in six months.

Sterling is also suffering. It has today witnessed prices of an eight-day low of $ 1.2922.

12.05pm update: Euro dips on French lockdown fears

The dollar rose against the euro on prospects of a national coronavirus lockdown in France.

President Emmanuel Macron will give a televised address on Wednesday, amid media reports that the French government may impose a lockdown from midnight on Thursday.

The European Commission proposed on Wednesday a series of new measures to fight the COVID-19 pandemic in the European Union, saying the new spike in infections on the continent was “alarming”.

10.45am update: FTSE recovers slightly

The FTSE-100 index at 10:45am was down 81.05 at 5647.94.

9.45am update: FTSE-100 down

The FTSE-100 index at 9:45am was down 91.47 at 5637.52.

9.00am update: Expert comments on global markets

John Woolfitt, director of trading at Atlantic Capital Markets, warned of uncertainty.

He said: ”Global markets look incredibly nervous, the mix of rising COVID-19 cases and deaths and the potential full lockdown in France, add this to the uncertainty ahead of the US elections and you have a very poor backdrop.

“I don’t expect this to be long-term, but nervousness will continue until elections are done and some form of steadying in the COVID-19 numbers.”

8.15am update: FTSE-100 falls

The FTSE-100 index at 8:15am was down 109.38 at 5619.61.


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