FTSE Slides As Investors Wait For Sunak’s Wage Subsidy Package – Live Updates

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gHello. The FTSE 100 is set to collapse again as more European countries tighten restrictions on coronaviruses in a bid to slow the rise in infections.In France, bars and restaurants in Marseille and Aix-en-Provence will close while gatherings of more than 10 people in Paris will be banned and pubs will have to close early.

Meanwhile, all eyes will be on Chancellor Rishi Sunak at 12:30 p.m. today as he presents a new multibillion-pound support package to the Commons, which is expected to include wage subsidies, VAT cuts and tax cuts. new loans.

5 things to start your day

1) City centers are facing new employers give up their intention to bring workers back to the office. PwC, HSBC, Goldman Sachs, Citigroup, Deutsche Bank and Lloyds have changed course due to changing government directions.

2) The Bank of England has dismissed reports that hedge funds paid for privileged access to press conferences, a year before the issue erupted into a public scandal.

3) Ryanair chief executive Michael O’Leary has said winter bookings have collapsed and criticizes the government’s “incompetent” viral response.

4) Designer Paul Smith says the pandemic is the worst challenge he has faced in 50 years in the industry, and calls on owners to be understanding.

5) Asda is bringing Commissioners back to the gates to fight a second wave, with 1,000 workers who will be stationed in and outside stores to remind people to wear face masks.

What happened during the night

Asian stocks fell on Thursday following an overnight slump on Wall Street, as a series of warnings from U.S. Federal Reserve officials underscored investor concerns about the resilience of the economic recovery.

US Federal Reserve Vice Chairman Richard Clarida said on Wednesday that the US economy remained in a “deep hole” of unemployment and weak demand, and called for more fiscal stimulus, noting that policymakers ” are not even going to start thinking “of an interest rate hike. until inflation reaches 2 pc.

The MSCI’s largest Asia-Pacific stock index outside of Japan fell 1.35% in the morning session on large losses in the region.

Chinese blue chips fell 1.09 pc, the Hong Kong Hang Seng fell 1.72 pc, Seoul’s KOSPI fell 1.73 pc and Australian stocks fell 1.18 pc. Japan’s Nikkei fell 0.74 pc.

A second wave of coronavirus infections in Europe has threatened the region’s economic recovery, pushing stocks lower and supporting the safe haven dollar.

On Wednesday, the Dow Jones Industrial Average fell 1.92 pc, the S&P 500 lost 2.37 pc and the Nasdaq Composite fell 3.02 pc.

Coming today

Intermediate outcomes

Cineworld, fundraising circle, Pendragon, SIG

Full year

Meubles DFS, Go-Ahead, Smiths

Economy

CBI Distributive Trade Survey (UK); Ifo business climate index (Germany); jobless claims (United States)



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