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US tech numbers puts FTSE on the back foot

by LLB Editor
30th Oct 20 10:20 am

Amid some volatility the FTSE 100 is lower on Friday, down 0.4% to 5,559.59 in early trading following a mixed set of updates from the big technology companies in the US,” says AJ Bell investment director Russ Mould.

“US futures are already pointing to falls on Wall Street later and this is impacting on sentiment with global markets on course to chalk up their worst weekly showing since March,” said AJ Bell’s Russ Mould.

“Weakness in sterling, with a continuing lack of visibility on the Brexit outcome, spared the FTSE from bigger falls with Natwest the top riser on better than expected third quarter numbers.

“Oil prices recovered some ground but still remain well below $40 per barrel as the market prices in another hit to demand from further national lockdowns. The stakes continue to rise ahead of the OPEC meeting in a month’s time.



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