The latest from London: China blues

10/19/2021 | 04:25am

Data showing a slowdown in China’s economic growth led the FTSE 100 down yesterday. The country’s GDP grew 0.2% sequentially, vs expectations of 0.4%.

Ongoing worries about a rate hike and supply chain disruptions are also weighing on investors sentiment.

The blue-chip index is flat this morning, with miners being the top performers.

Bellway advanced 3.0% after a big rise in annual profits and an improved guidance. Online gaming company 888 Holdings inched down 0.7% after announcing that it expects a negative impact to 2022 Ebitda.

In other news, the U.K. government said it was investigating Parker Hannifin Corp.'s planned 6.3 billion pound takeover of Meggitt due to national security concerns.

 

Things to read:

 Tether’s bitcoin-backed lending clashes with dollar promise (Financial Times)

John Authers: Markets Start to Bow to the Inflation Reality (Bloomberg)

To Strike a Climate Deal, Poor Nations Say they need Trillions From Rich Ones (WSJ)

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