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FTSE CLOSE: Footsie flops but Wall Street holds steady on 'Merger Monday'

Looking ahead: It’s a big week for data and policymakers at the Federal Reserve 

17.25: The FTSE 100 closed down 42.04 points at 6954.22 as the oil price slid towards $48 and investors were gripped by uncertainty ahead of the US election.

The Dow Jones rose 14.2 points to 18,175.4 as traders digested news of a tie-up between General Electric’s oil and gas business and Baker Hughes, just the latest in a series of big deals to hit US headlines. 

Germany’s DAX was off 31.2 points at 10,665 and France’s CAC 40 was down 39.3 points at 4,509.3.

‘The FTSE has spent the day in the red today, as Brent crude tumbled to the lowest level since Opec’s output cut was announced,’ said Joshua Mahony of IG.

‘Today marked the introduction to one of the busiest weeks in recent memory, where no fewer than four central banks are due to announce their latest policy decisions in a…

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