FTSE 100 LIVE: European stocks fall as UK consumer confidence weakens ahead of budget
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The FTSE 100 (^FTSE) and European stocks lost ground on Friday as consumer confidence in the UK declined again in October, taking the score back down to the level last seen in March this year.
According to the latest figures from GfK on Friday, the overall index score slipped one point to -21 this month. Three measures declined and two rose compared with September’s announcement, it said.
Neil Bellamy, consumer insights director at GfK, said: "As the budget statement looms, consumers are in a despondent mood despite a fall in the headline rate of inflation. This month’s consumer confidence barometer paints a picture of people holding their breath to see what’s in store for them on 30 October.”
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London’s benchmark index was 0.2% lower in early trade.
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Germany's DAX (^GDAXI) also slipped 0.2% and the CAC (^FCHI) in Paris headed 0.4% into the red.
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The pan-European STOXX 600 (^STOXX) was down 0.3%.
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Wall Street is set to open slightly higher, albeit muted, as S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were in the green.
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The pound was flat against the US dollar (GBPUSD=X) at 1.2974.
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