Logo of the London Stock Exchange. Wall Street was mixed in late morning trading, with the blue-chip Dow and broader S&P 500 both modestly higher, but the Nasdaq fell 1.0 per cent. In Europe, London’s FTSE 100 ended the day with a small gain, while in Paris the CAC 40 was flat and the Frankfurt DAX 30 dipped 0.2 per cent. Milan shed nearly 0.6 per cent on ongoing worries over Italy’s national accounts. Global oil prices meanwhile came off lows after the US reimposed sanctions on Iran, which is the OPEC cartel’s second-biggest player after Saudi Arabia. Markets.com analyst Neil Wilson said traders are focused “on US midterms on Tuesday, whilst questions over the Italian budget continue to impact risk sentiment.” Eurozone finance ministers urged Italy on Monday to reverse course on its rule-breaking budget amid fears of market turmoil and a return of the debt crisis. ‘WORST CASE SCENARIO’ FOR MARKETS Traders are now eyeing Tuesday’s US midterm elections, which are seen as a vote on President Donald Trump’s performance since taking the White House, with the Democrats looking to take control of the House of Representatives. FXTM analyst Hussein Sayed said the “market’s worst-case scenario would be… Read full this story
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