Traders on the London Stock Exchange made a meagre attempt to beat Tuesday’s falls following new estimates from the Office for National Statistics showing the UK economy fell less sharply in the second quarter than first thought.
Traders on the London Stock Exchange made a meagre attempt to beat Tuesday’s falls following new estimates from the Office for National Statistics showing the UK economy fell less sharply in the second quarter than first thought. They were also reeling from the first US presidential debate, trying to understand what it means for investors. The UK’s second-quarter GDP slump of 20.4% was revised to 19.8%, but the negligible shift failed to gain much traction. Instead, after a brief peak at lunchtime, the FTSE 100 closed down 31.4 points, or 0.53%, at 5866.1. David Madden, market analyst at CMC Markets UK, said: “The bullish mood in the US has lifted sentiment on this side of the Atlantic. “Steven Mnuchin, the US treasury secretary, said he will give one more go at trying to come to an agreement with the Democrats with respect to a coronavirus relief package, and that is assisting equities.
