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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 up 0.2%, lifted by Astrazeneca

08/15/2022 | 04:42am EDT

The LSE ended the week on a high, after data showed the UK GDP contracted by a less-than-expected 0.1% in the second quarter, after a 0.7% increase in the first quarter. The FTSE100 advanced 0.47% on Friday and 0.8% for the week.

Lower-than-expected inflation in the US and a less aggressive intervention by the Federal Reserve in September pushed financial markets also contributed to the gains.

Risk appetite seems to be intact for the time being, despite weaker-than-expected manufacturing data from China. Industrial production rose 3.8% year-on-year, vs 4.3% expected. Retail sales are up 2.7% compared with forecasts of 4.9%.

The FTSE 100 was up 0.2% this morning, boosted by AstraZeneca after it reported positive trial results for the drug Enhertu

This week, will be watching the latest inflation numbers in the UK. The CPI’s annual rate is expected to jump to 9.8% from 9.4% in June. On the corporate side, there will be results Walmart and Target.

 

Things to read today:

China cuts lending rate as economic data disappoint and Covid cases rise (Financial Times)

Next UK Chancellor: Kwasi Kwarteng wrote an outspoken book on Empire, now he wants to change the subject (The Times)

Wall Street, Like the Climate Bill, Bets on Both Green Energy and Fossil Fuels (WSJ)


© MarketScreener.com 2022
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC -1.42% 9933 Delayed Quote.16.11%
TARGET CORPORATION -2.29% 152.335 Delayed Quote.-35.85%
WALMART INC. -0.41% 132.5 Delayed Quote.-9.50%