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OFFON

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.

Inflation and China fears weigh on UK markets

09/16/2021 | 05:13am EDT

UK markets continue to struggle for direction, after a higher close on Wall Street but a weak session in China due to regulatory concerns and poor economic data, with retail sales in the country only growing by 2.5%, compared to expectations of 7%.

China's tech and real estate giants are under pressure, and European markets are starting to feel the pinch, especially in industries reliant on Asian shoppers.

The blue-chip index was up 0.5% this morning, lifted by aero and defense stocks.

Among stocks, AstraZeneca jumped 0.9% after JPMorgan said it remains optimistic on the case.

After releasing an upbeat guidance, Ashtead soared 3%, while IG Group Holdings climbed 4.9%, after it said its revenues were boosted by the acquisition of online brokerage Tastytrade.

Markets digested inflation data in the UK, where the CPI increased 3.2% YoY, strengthening fears that the Bank of England will act soon to raise interest rates. Investors will focus today on U.S. retail sales data, due at midday, which should offer clues as to when the Fed will unveil plan to reduce its asset purchases.

 

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ę MarketScreener.com 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASHTEAD GROUP PLC 0.17% 5986 Delayed Quote.73.82%
ASTRAZENECA PLC -0.08% 8996 Delayed Quote.22.92%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.15% 0.74998 Delayed Quote.-2.64%
BRITISH POUND / US DOLLAR (GBP/USD) -0.24% 1.37314 Delayed Quote.0.65%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.17% 0.80817 Delayed Quote.2.86%
EURO / US DOLLAR (EUR/USD) 0.04% 1.15988 Delayed Quote.-4.96%
IG GROUP HOLDINGS PLC -0.90% 823.5 Delayed Quote.-3.60%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.16% 0.013332 Delayed Quote.-2.72%
JPMORGAN CHASE & CO. -2.08% 167.83 Delayed Quote.34.52%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.06% 0.716 Delayed Quote.-0.20%
S&P 500 -0.51% 4551.68 Delayed Quote.21.58%