Romain Fournier

Chief Editor
Having worked in the British, French and Swiss financial press, Romain is able to report on local and international issues, as comfortable in French as in the language of Shakespeare, Romain Fournier leads the editorial team at Marketscreener. Fine connoisseur of the English-speaking markets, Romain delivers an editorial every day on US and UK markets.

China data spooks UK investors

05/16/2022 | 04:47am EDT

Despite turmoil caused by recession fears, the FTSE 100 still managed to add 0.4% over last week. This morning, it was down by 0.7%, before coming back to positive territory later.

Defensive stocks are among the worst-performing stocks today, with Unilever, Reckitt Benckiser, JD Sports and Hikma Pharmaceuticals all at the bottom of the index.

Investor sentiment is also dented by new data showing China's retail and factory activity dropped significantly in April due to lockdown restrictions in response to a Covid surge.

Among gainers, Vodafone jumped 3.6% Emirates Telecommunications Group, which recently rebranded from Etisalat to e&, bought a 9.8% stake in the company for £3.3 billion.

 

 

Things to read today:

China’s economic activity plummets as Covid Lockdowns hit growth (Financial Times)

Tory MPs to grill Bank of England governor over high inflation (The Guardian)


© MarketScreener.com 2022
Stocks mentioned in the article
ChangeLast1st jan.
FTSE 100 2.68% 7208.81 Delayed Quote.-4.93%
HIKMA PHARMACEUTICALS PLC 5.85% 1637 Delayed Quote.-26.23%
JD SPORTS FASHION PLC 4.29% 119.1 Delayed Quote.-45.32%
RECKITT BENCKISER GROUP PLC 1.20% 6246 Delayed Quote.-1.51%
UNILEVER PLC 3.20% 3742.5 Delayed Quote.-5.15%
VODAFONE GROUP PLC 0.00% 126.5 Delayed Quote.12.68%