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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.

Strong job data and tech stocks offset impact of lower oil prices on the FTSE 100

08/16/2022 | 04:32am EDT

Oil and metal prices dropped significantly yesterday, following weaker-than-expected data on industrial production and retail sales in China.

This weighed heavily on the commodity-rich FTSE 100, but this was offset by a good performance from tech stocks The index ended the session 0.1% higher.

The LSE opened in the green this morning, lifted by strong job data. The U.K. unemployment rate remained stable at 3.8% in the second quarter, while the number of people in employment rose 160,000, according to the Office for National Statistics.

In other news, Sage Group just announced that it has agreed to purchase cloud accounting firm Lockstep. The amount of the transaction was not disclosed.

Today, investors will be watching earnings reports from retailers The Home Depot and Walmart and Wednesday’s minutes from the latest Federal Reserve meeting.

 

Things to read today:

Warren Buffett’s Berkshire Hathaway makes big bet on US lender Ally Financial (Financial Times)

Protests Against Soaring Energy Bills Spread Through UK, and CEOs Are Taking Notice (Bloomberg)


© MarketScreener.com 2022
Stocks mentioned in the article
ChangeLast1st jan.
SAGE GROUP PLC -0.35% 690 Delayed Quote.-18.74%
THE HOME DEPOT, INC. -1.37% 278.33 Delayed Quote.-32.93%
WALMART INC. -0.65% 132.25 Delayed Quote.-8.00%