Fresh data shows British retail sales fell 0.2% in September, while consumer confidence dipped for a third month in a row in October, UK's economy was still reeling from the impact of inflation and supply chain pressures.
But there is some glimmer of hope after China’s Evergrande made a surprise interest payment, which lifted Wall Street yesterday.
The FTSE 100 rose 0.4% this morning, lifted by mining stocks. JD Sports Fashion gained 2.2%, after announcing its acquisition of Cosmos Sport S.A. Meanwhile, Money transfer company Wise dipped 4.3% after a co-founder announced he would sell 1.1% of his Class A shares.
Flash purchasing managers index survey data for October for Britain, the euro zone and the United States will be closely watched today.
Things to read:
Evergrande is Living Dead Despite Bond Payment (Bloomberg)
Investors flee Gold for Cryptocurrencies as Inflation fears rise (Financial Times)
BoE chief economist predicts 5% UK inflation (Financial Times)