FTSE falls as new local lockdowns loom – updates live


gHello. The FTSE 100 is expected to start the week in the green despite the government preparing to announce strict local lockdowns in the north of England.But keep an eye out for stocks in the hospitality and leisure sectors today as new restrictions in some areas will close pubs, gyms, casinos, bookies and social clubs.

Brexit will also be on focus again this week as Boris Johnson’s October 15 deadline for an outline for a trade deal looms.

5 things to start your day

1) Arm races to double UK workforce: The British microchip company must hire 490 people by September 2021 to meet the legally binding commitments it made when it was acquired by SoftBank.

2) Ocado boss says tougher foreclosure rules are ‘counterproductive’: Ocado President Stuart Rose describes the 10pm curfew on pubs and restaurants as “a failure”, demonstrating a “lack of forethought and strategic thinking” on the part of ministers and putting millions of people at risk jobs.

3) CBI chief asks for free port watchdog: The head of the largest British trade group warns that free ports risk becoming “a magnet for trade operating within the borders of the law”.

4) Firms move € 150 billion in UK assets to France ahead of Brexit: The governor of the Banque de France specifies that since September, 31 entities – mainly investment firms – have also submitted an application for authorization in France.

5) Leveling the North “must have a more surgical approach”: The first report of the new Covid Recovery Commission, led by Tesco and Barratt chairman John Allan, paints a damning picture of the impact of the pandemic on poorer parts of the UK.

What happened during the night

Chinese equities drove Asian markets higher on Monday as investors bet on a steady recovery for the non-global. 2, but caution about the fate of US stimulus packages kept the dollar strong, and a central bank policy adjustment offset some of the yuan’s gains.

The largest MSCI Asia-Pacific stock index outside of Japan rose 0.8% to 2.5-year highs, supported by a 2% gain in Chinese blue chips and a rise in 1.5% of the Hong Kong Hang Seng Index. Japan’s Nikkei slipped 0.3 pc as investors worried about corporate earnings.

China returned from an eight-day festival in mid-autumn with investors encouraged by a robust rebound in tourism and declining cases of coronavirus.

Chinese blue chips have gained nearly 17% this year, compared to nearly 8% by the S&P 500. Foreign buying of Chinese government bonds reached its fastest pace in more than two years this month latest.

Coming today

No FTSE 350 company is ready to report.

Economy BoE’s Bailey and Haskel are both scheduled to speak (UK)


Please enter your comment!
Please enter your name here