London stocks fall ahead of US mid-term elections

Summarised from 2 outlets · Updated 3 Nov, 17:46 · Archive

London stocks ended lower on Tuesday as investors faced uncertainty ahead of US mid-term elections.

Stocks in London ended lower on Tuesday as markets reacted to a fresh US strike on Iran and uncertainty ahead of the mid-term elections. The FTSE 100 index closed down 122.90 points, 1.1%, at 10,638.43. The FTSE 250 ended 120.94 points lower, 0.5%, at 24,674.91, and the AIM all-share declined 3.32 points, 0.4%, at 754.60. European indices also fell, with the CAC 40 in Paris ending down 0.2% and the DAX 40 shedding 0.5% in Frankfurt.

New York stocks were mixed as voters headed to the polls. The Dow Jones Industrial Average was down 0.3%, the S&P 500 was 0.5% higher and the Nasdaq Composite rose 0.9%. All 435 seats in the US House of Representatives are up for election, with Republicans defending a narrow majority and Democrats needing a net gain of four seats to take control. In the Senate, 35 seats are being contested, with Republicans holding 53 seats against 47 held by Democrats.

Ulrike Hoffmann-Burchardi, global head of equities at UBS Chief Investment Office, said: 'The blue sweep remains our highest probability outcome, though we note the senate remains closely fought and the eventual size of any majority is uncertain.' Polling in several Senate races showed results within the margin of error.

How it is being reported

• Stocks falter amid uncertainty ahead of US pollsThe US mid-term elections are taking place on Tuesday.Evening Standard · 3 Nov, 17:18
• Stocks falter amid uncertainty ahead of US pollsThe US mid-term elections are taking place on Tuesday.Independent Business · 3 Nov, 17:18

In this story: London · United States · Iran · Democrats · Republicans · Donald Trump · UBS

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