FTSE LIVE: Food industry calls for no-deal Brexit competition waiver; Markets take pause

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After a deep rout at the start of the week, markets are taking a breather in early trading today
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FTSE LIVE: Food industry calls for no-deal Brexit competition law waiver; New cap to bring lower energy bills for millions this winter; Markets await next move in US-China trade war

  • Around 15 million households will see their energy bills drop this winter 
  • FTSE flat at the open as traders await any further escalation in the trade war 
  • The food sector wants parts of competition law to be set aside in a no-deal Brexit

The UK food industry is calling for aspects of competition law to be set aside in the event of a no-deal Brexit so that firms can work together to coordinate and direct supplies. 

Gas and electricity bills are set to fall for millions of people this winter after the energy watchdog Ofgem cut price caps designed to protect those on poor-value deals. 

And the FTSE 100 was flat at the open today at 7,174.40 as investors watch on nervously for any further escalation in the trade war between the US and China.

In the space of a couple of weeks, we’ve gone from being hopeful of a deal to new tariffs and the US labelling China a currency manipulator. As Oanda’s Craig Erlam says: ‘That’s some escalation!’  

After a deep rout at the start of the week, markets are taking a breather in early trading today

 

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