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FTSE falls flat on competing catalysts

by LLB Editor
27th Oct 20 9:28 am

Strong updates from FTSE 100 heavy hitters BP and HSBC weren’t enough to stop the index slipping very modestly into the red on Tuesday morning as investors digested yesterday’s big sell-off in the US,” says AJ Bell investment director Russ Mould.

“The rapid increase in coronavirus infections around the globe and in America itself and what seemed like the final extinguishing of any hopes a stimulus package could be agreed ahead of next week’s Presidential election put stocks firmly on the back foot.

“Oil prices made a recovery from yesterday’s losses but the continuing volatility for crude is raising the stakes ahead of a meeting of producers’ cartel OPEC next month.”

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