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.

The FTSE 100 set for its first quarterly decline

06/30/2022 | 04:40am EDT

The FTSE100 fell 0.1% yesterday, due to ongoing fears about inflation, recession, and the impact of higher rates from central banks.

Yesterday, the Bureau of Economic Analysis revealed that the real Gross Domestic Product (GDP) of the United States contracted at an annual rate of 1.6% in the first quarter, renewing worries about the global economy.

Today, data from the Office of National Statistics shows that Real household disposable income in the UK declined in the first quarter due to inflation. This is the fourth consecutive quarterly drop.

London’s blue-chip index was down 1.7% this morning, and was set for its first quarterly decline since September 2020. Oil, metal and mining stocks are among the biggest drag. Financials are also down after Barclays lowered its price targets on HSBC Holdings, Lloyds and Natwest Group.

Bunzl is the top gainer today after the supplies distributor said it expected higher annual revenues, lifted by inflation and acquisitions in the past year.

 

Things to read today:

Sanctions Escalate But London Struggles to Wean Itself From Russian Billions (Bloomberg)

If Inflation Hasn’t Made You Crazy, Try Buying an I Bond (WSJ)


© MarketScreener.com 2022
Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC 1.85% 172.08 Delayed Quote.-9.64%
BUNZL PLC 0.03% 3138 Delayed Quote.8.73%
HSBC HOLDINGS PLC 0.33% 550.7 Delayed Quote.22.34%
LLOYDS BANKING GROUP PLC 0.30% 45.74 Delayed Quote.-4.59%
NATWEST GROUP PLC 1.76% 261.3 Delayed Quote.13.69%