Ggood morning. The FTSE 100 is set to open steadily in red as virus cases continue to rise.
After positive vaccine news bolstered earlier in the week, investors are turning their attention once again to the immediate virus issues.
5 things to start your day
1) Sales of bars and restaurants fell by a third in October: The latest data revealed that strict coronavirus-related restrictions across the UK caused sales in bars and restaurants to drop by a third in October.
2) Sunak drops stimulus hint as economic recovery fades: Sunak is preparing to reignite consumer spending with a fresh billions of pound endowment campaign after the economic recovery has nearly stalled.
3) The new owners of Asda sell their stake in the Forward Squares Empire: The gasoline pumping tycoons who bought Asda last month for £ 6.8 billion have amassed hundreds of millions by selling a stake in their EG Group business.
4) National Express to get students home for Christmas: National Express, dubbed “Operation Chris Rey,” will lead the mass repatriation of college students to go home safely on Christmas.
5) Standard Life Aberdeen president insists the desks are essential: Stephen Beard launched an attack on the full-time work at home, saying it was vital to new ideas, in the city increasingly divided over the future of the office.
What happened overnight
Shares in Asia tumbled on Friday, following the sell-off in the United States and Europe as investors feared the economic impact of an accelerating spike in coronavirus cases.
The President of the US Federal Reserve, Jerome Powell, said on Thursday, during a discussion with other central bankers, that progress in developing a vaccine for the Corona virus is good news, but economic risks in the near term remain as the infection accelerates, confirming the potential need for government stimulus. additional.
Against this bleak background, the MSCI Asia Pacific Index of broadest stocks outside of Japan fell 0.25% in early trade as stocks tumbled across the region.
Leading Chinese stocks led the losses, down 1.21%. Australian shares lost 0.47 percent, the Kospi in Seoul slid 0.16 percent and Hang Seng 0.55 percent.
Japan’s Nikkei 225 index fell 0.95%.
Some investors saw a buying opportunity in the recession.
Is coming today
Company: There are no FTSE 350 companies scheduled to report.
Economics: Second estimate of GDP (Euro-zone) ; Producer prices (we)