FTSE 100 and CAC 40 race higher to erase losses

The UK’s blue-chip index FTSE 100 Index and its French counterpart CAC 40 both raced higher in the afternoon to erase this morning’s losses on the increased hopes that an agreement over a new stimulus bill in the United States could be reached.  Still, some analysts are pessimistic that the agreed deal will be passed through the Senate before November 03. “Even if both sides do manage to reach an agreement, given the tight deadline ahead of the election it’s unlikely that something like that would be able to go through the Senate smoothly,” said Carlos Casanova, a senior economist