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Oil prices, stock markets slide as coronavirus cases rise – business live

Covid-19 concerns and pessimism that a US fiscal stimulus package can be passed before next week’s election drag markets lower

9.02am GMT

The German Ifo business climate index is worse than expected at 92.7, down from 93.4 in September and versus expectations of a reading of 93.

#Germany Ifo Business Climate at 92.7 https://t.co/VNYiJDLvbS pic.twitter.com/LVGzhnmgOp

8.58am GMT

The FTSE 100 index is now just 0.2% lower, a loss of 11.48 points, at 5,848, while other European indices have suffered heavier losses. Germany’s Dax is still down 2.27% at 12,358 after the German software firm SAP said profit and sales declined in the three months to 30 September, and downgraded its outlook. SAP shares plunged as much as 20% and are still down 16.7% at €104.

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