The latest from London: Bumpy ride ahead

09/13/2021 | 04:24am

The week is off to a slightly better start after the previous sessions’ woes, when markets dipped due to the weak economic data and uncertainty from ECB’s announcement. Figures showed the UK Economy grew only by 0.08% in July MoM, down from 1% in June. Telecoms and leisure stocks were hit hardest. The FTSE100 inched up 0.07% on Friday, but posted its worst week since mid-August.

This morning, the blue-chip index was up 0.5%, led by banks and commodity stocks. Three also jumped 4.7% after it forecast annual earnings "significantly above" estimates. However, Associated British Foods dropped 3.1% on weak results for its Primark fashion business.

However, warnings of a bumpy autumn on markets are multiplying: Investors remain cautious as concerns over growth linger, while inflation remain high.

Things to read:

Here's what the six months of the pandemic will bring (Bloomberg)

Food price inflation heaps pressure on poorer countries (Financial Times)

U.S. Stock Market Faces Risk of Bumpy Autumn, Wall Street Analysts Warn (Wall Street Journal)

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