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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.

FTSE 100 gains from higher commodity prices

07/22/2022 | 05:27am EDT

The news that Russian gas is flowing again through the Nord Stream pipeline since yesterday has brought some optimism on UK markets. The FTSE 100 returned to gains yesterday, albeit by a meager 0.1%.

Markets didn't react much to the ECB's decision to hike the three key interest rates by 50bp, instead of the standard 0.25%.

Today, all eyes will be on the earnings reports from Twitter, Verizon and American Express, as investors look for clues on how well corporate America is coping with high inflation and a strong greenback.

This morning, the UK's FTSE 100 was up 0.3%, lifted by oil companies and miners, as commodity prices bounced back.

Banks are underperforming due to fears of an economic slowdown in Europe due to Italy's political crisis and the ECB raising rates by 0.5%.

Among stocks, BT Group inched up 0.5% after the UK's competition watchdog approved a deal to merge its sports broadcasting business with Warner Bros Discovery.

 

Things to read today:

EU solidarity frays as some member states question plan to slash gas use (Financial Times)

Inside Team Truss: slow off the mark but catching up fast in race for No 10 (The Guardian)


© MarketScreener.com 2022
Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN EXPRESS COMPANY -2.09% 134.91 Delayed Quote.-15.78%
BT GROUP PLC -0.12% 121.35 Delayed Quote.-28.43%
DISCOVERY LIMITED 1.65% 104.93 End-of-day quote.-26.91%
TWITTER, INC. 2.57% 43.84 Delayed Quote.1.43%
VERIZON COMMUNICATIONS -1.73% 37.97 Delayed Quote.-26.92%
WARNER BROS. DISCOVERY, INC. -1.37% 11.5 End-of-day quote.-51.15%