Based on the European open, it looks like the markets are taking a pause from anything too serious, unable to really move without US guidance.
Without any other distractions, it’s hard to muster much positive sentiment in the face of the largest daily number of covid-19 deaths worldwide since the pandemic began.
The FTSE started off with a 0.1% dip, ensuring it remained the wrong side of 6,400. This while the pound dropped 0.2% against the dollar and euro alike, after Michel Barnier claimed the EU would pull out of Brexit talks if the UK refuses to compromise on the outstanding issues.
Following a sharp drop in consumer confidence, and news of Germany extending its partial lockdown, the DAX did well to only fall 0.1% after the bell. The CAC rose by that same amount, nudging towards 5,570.
Hardly the most interesting session, and one likely to remain so in the absence of the Thanksgiving-celebrating American markets. A Brexit deal breakthrough could be the thing to shake investors out of their nap; ditto the region-by-region Tier designations in the UK, which could have a major impact on hospitality and leisure stocks.
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