FTSE Rises As Vaccine Confidence Lifts
Fiona Cincotta November 23, 2020 3:40 AM
The FTSE is kicking off the week on the front foot as vaccine optimism overshadows the grim backdrop of accelerating covid cases
The FTSE is kicking off the week on the front foot as vaccine optimism overshadows the grim backdrop of accelerating covid cases. The light at the end of the tunnel appears to be getting brighter.
Looking ahead manufacturing & services PMIs for the Eurozone, the UK and the US will be in focus. Preliminary readings for November business activity in the Eurozone are expected to be dismal owing the resurgence of covid and second round of lockdown restrictions. Last months’ readings showed a slight decrease, this month’s readings are expected to show a significant deterioration in activity level.
UK manufacturing and services PMI will also be in focus, The UK economy has proved to be resilient, strengthening after the March / April lockdown. However, this strength eased slightly in October as fresh lockdown restrictions in part of the UK came into force. November’s data is expected to show a continued weakening in November reflecting the fallout from the national lockdown across the UK which started on 5th November.
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