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FTSE pushes ahead despite Brexit and virus turmoil

by LLB Editor
1st Oct 20 11:39 am

Investors were hungry for a broad mixture of stocks on the UK market on Thursday, with banking, insurance and mining among the sectors in demand. Bottling company Coca Cola HBC topped the FTSE 100 risers thanks to a bullish broker note,” says Russ Mould, investment director at AJ Bell.

“In mainland Europe, fashion retailer H&M beat profit expectations for its third quarter period. Chief executive Helena Helmersson said: ‘The worst is behind us.’ The company’s shares jumped 6.4%.

“Germany’s DAX index advanced 0.3% while France’s CAC 40 index moved 1.1% higher.

“Asian stocks were mixed. China’s Shanghai SE Composite index slipped 0.2% with notable selling among real estate and mining stocks. Trading was suspended on the Tokyo Stock Exchange after a technical problem. Hong Kong’s Hang Seng index advanced 0.8% with tech and healthcare stocks in demand.

“Pre-market indicative prices suggest a good day for US stocks with the Dow Jones showing a 0.9% likely rise when markets open, and a 0.7% gain for the S&P 500. Investors continue to be optimistic about new US stimulus, however markets are likely to become more volatile as we approach the US Presidential election.

“Brent Crude oil traded 0.1% higher at $42.36 per barrel while the gold price hovered around $1,900 per ounce.

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