October proved to be a more challenging month for markets. The increases in COVID-19 cases in Europe and the US weighed heavily on their equity markets towards the end of the month, with falls accelerated by announcements of new lockdown restrictions in countries across Europe. Political uncertainty was also at the forefront of investors’ minds, with October being the last month of political lobbying ahead of the US election on 3rd November. In the UK, Brexit negotiation posturing by both sides meant a deal has still not been agreed and there are now only a couple of months left until the transition period ends.

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