The wait is almost over

08/10/2022 | 05:17am

Tech stocks took a hit yesterday US chipmaker Micron warned of negative free cash flow. However, the energy sector performed well yesterday, and the FTSE100 inched up by 0.1%.

This morning, the index remains flat ahead of the release of the much-awaited US inflation figures, due later today, which have the potential to greatly impact global markets in case of a bad reading. This could force the Federal Reserve to be even more aggressive with interest rate hikes.

Among stocks, Deliveroo fell 1.3% after it announced that it is looking at leaving the Netherlands market after a disappointing performance there.

Royal Mail dropped 3.4% after it said on Wednesday that it could record a loss in the UK for the full-year, if the Communications Workers Union (CWU) goes on strike for several days spread over August and September.

Meanwhile, Insurer Aviva jumped 4.9% after saying it planned to increase dividends after posting stronger -than-expected results.

 

Things to read today:

Confronting the reality of the UK energy crisis (Financial Times)

FBI Search of Trump Property Prompted by Concerns Over Sensitive Documents (WSJ)

MarketScreener.com 2022
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