European shares fall as uncertainty over the outcome of the US election preys on investors’ minds * US wages rise more than expected in solid jobs report * Non-farm payrolls lift prospect of December US rate hike * FTSE falls more than 1%, pound stays above $1.24 * Eurozone surveys signal growth in October * S&P 500 set for longest losing streak since 1980 * Growth in UK new car sales slows in October 2.37pm GMT BERENBERG’S CHART OF THE WEEK: The 2016 Presidential elections have been a painful story focused on two deeply flawed and damaged candidates. The winner will carry burdens into the White House. The latest polls are pointing to a Hillary Clinton victory and Republicans maintaining control of the House of Representatives. The Senate is a tossup. Congress is crucially important – plurality in each chamber conveys leadership of every committee – and will determine policy deliberations as well as many appointments in the new administration . 2.08pm GMT HERE IN GREECE, THE EU’S ECONOMIC TSAR PIERRE MOSCOVICI HAS IGNITED A FIERCE ROW WITH YANIS VAROUFAKIS, THE FORMER GREEK FINANCE MINISTER. With his frantic pre-occupation with the media and unbridled narcissism, Varoufakis drew the limelight on himself and for several months cannabilised the discussions. He contributed to the tension at the talks by refusing any negotiation. The more the third memorandum crumbles, the more determined, it seems, they are to honour me with their hate because I didn’t sign it. I thank them again. Continue reading...
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