UK rebound loses momentum as eurozone recovery stalls


gHello. The FTSE 100 is expected to open higher as the UK braces for the prospect of tighter coronavirus restrictions. Markets drifted overnight, with the US dollar hitting a two-month high amid lingering concerns about the global economic recovery.

5 things to start your day

1) The government is under increasing pressure to support businesses affected by the new coronavirus restrictions.

2) Michael Gove, Cabinet Minister, has warned that up to 7,000 trucks could face two-day queues in Dover after Brexit.

3) Dublin pubs, many of which remain closed even after the longest shutdown in Europe, complain of a “lack of confidence” from the authorities.

4) Tesla promises $ 25,000 car in three years: Elon Musk says there is no long-term future for cars with internal combustion engines.

5) Chad Rigetti, the man behind the UK’s first quantum computer, hopes reality can finally match the hype

What happened during the night

Asian markets were mostly down on Wednesday, with investors keeping a cautious eye on how the coronavirus pandemic will affect the economic outlook.

Shares slipped in Japan, Hong Kong and Seoul on Wednesday, but rose in Sydney after the government said retail sales performed better than expected.

Tokyo’s Nikkei 225 fell 0.6 pc to 23,220.33, reopening after a four-day weekend, while the Hang Seng in Hong Kong fell 0.1 pc to 23,700.69. The South Korean Kospi fell 0.8 pc to 2,313.86. Shares fell in Thailand, Singapore and Taiwan but rose in Jakarta.

The Shanghai Composite Index rose 0.1% to 3,275.87. Australia’s S & P / ASX 200 jumped 1.5% to 5,871.90 after the government said retail sales fell 4.2% from the previous month in August, far below the 11 % expected, said Marcel Thieliant of Capital Economics in a comment.

Coming today

  • Intermediate results: Personnel, Ten Entertainment
  • Full year: PZ Cussons
  • Commercial declaration: Halma, SSP Group
  • Economy: PMI Flash (United Kingdom, Japan, euro zone, United States); Final reading of T2 GDP (Spain)


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