The latest from London: Will last week's trends be confirmed?

10/18/2021 | 04:56am

Better-than-expected third quarter earnings have change the mindset of investors, after a gloomy September. Markets bounced back globally last week. But it’s a bit too early to draw trends, and investors are waiting for this week’s big names to confirm this good start. ASML Holding, Unilever and Netflix are among companies due to report. But the FTSE 100 is down 0.2% this morning after Dutch health technology group Philips lowered its 2021 sales and earnings growth outlook.

In addition, fresh data showed that China's economy hit its slowest pace in a year, hampered by power shortages, supply chain disruptions and property market woes. GDP grew 4.9% in the third quarter.

Oil prices continue their ascent, with Brent crude trading above $85 a barrel. The rise in prices led Bank of England Governor Andrew Bailey to say yesterday that the Bank “will have to act”.

Among stocks, the Hut Group jumped 8.4% after it cancelled its CEO’s "golden share". Meanwhile, gaming software supplier Playtech surged 56.8% after Australia's Aristocrat Leisure said it will buy the company for 2.1 billion pounds.


Things to read:

Without an economic plan, patriotism is Boris Johnson’s last refuge (Financial Times)

Behind the Energy Crisis: Fossil Fuel Investment Drops, and Renewables Aren’t Ready (WSJ)

Supply chain lessons from Long Beach (Financial Times)

© 2021
Copier lien
Latest news about ""
1h ago
1d ago
2d ago
3d ago
7d ago