The rally is losing steam after a strong week as investors await election results – the latest updates
Ggood morning. Markets are back in wait and see as results continue to emerge across the crucial US presidential election states.
It has been a long march, but Georgia in particular appears close to the outcome, with Democratic candidate Joe Biden on the verge of defeating President Donald Trump.
European stocks are set to drop slightly at the open in just under an hour, clearing the edge of strong multi-day gains.
5 things to start your day
1) A watchdog agency warns of disruption of Brexit borders: A National Audit Office (NAO) report predicted “widespread disruption” at Britain’s borders from January 1, partly due to delays in action due to Covid-19.
2) President JoJo Maman Bébé attacks forced store closures: Founder Laura Tennyson said it was an “unusual” pregnancy, with clothes and equipment for newborns and young children not on the essentials list.
3) A railway tunnel to Northern Ireland under study: Boris Johnson blesses Network Rail President Sir Peter Hendy’s decision to conduct a review of the link between Stranraer and Larne.
4) Apollo turns his attention to William Hill: Apollo Global Management, the bidder to buy William Hill, is preparing to shift focus to European bookmaking operations rather than the entire company.
5) Work whenever and wherever you want, Stanchart tells employees: The bank offers employees the option to specify the hours, days and location they want, and is in talks to provide “close to home” workplaces.
What happened overnight
Asian stock markets were mixed on Friday after Wall Street rallied amid the protracted vote count after this week’s US election.
Tokyo and Sydney advanced, while Shanghai and Hong Kong retreated. Seoul oscillated between gains and losses.
The Shanghai Composite lost 0.5% to 3302.02 while the Nikkei 225 in Tokyo rose 0.9% to close at a 29-year high. Hong Kong’s Hang Seng Index fell 0.3% to 25,617.47.
The Kospi Index in Seoul dropped less than 0.1 pieces in the mid-morning at 2,415.67. Sydney’s S & P-ASX 200 advanced 0.9 segment to 6193.20.
New Zealand and Jakarta rose, while Singapore fell.
Is coming today
Company: Return (Full-year results); Paisley, Morgan Advanced Materials (Trading data)
Economics: Halifax House Price Index (United kingdom); Industrial production (Germany, Spain); Non-farm payroll, unemployment and profits (we)
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