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UK market awaits EU trade talks

by LLB Editor
12th Oct 20 11:15 am

It’s a big week for the UK as trade talks with the EU enter a crucial stage. Sterling nudged up 0.1% against the euro to €1.1044 but was flat against the US dollar, implying that the market is still uncertain as to the likely outcome of the negotiations.

“A 1% decline in Brent Crude oil to $42.40 per barrel weighed on the FTSE 100 with shares in major index constituents BP and Royal Dutch both falling by that amount.

“Consumer-facing stocks will be in focus today with UK Prime Minister Boris Johnson expected to announce tighter lockdown restrictions in parts of the country. Pub, restaurant and leisure activity operators are likely to be affected.

“Stocks in mainland Europe fared better, including a 0.3% gain in the Dax with Daimler the top riser (up 1.8%),” says Russ Mould, investment director at AJ Bell.

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