Fresh data shows British retail sales fell 0.2% in September, while consumer confidence dipped for a third month in a row in October, UK's economy was still reeling from the impact of inflation and supply chain pressures.
But there is some glimmer of hope after China’s Evergrande made a surprise interest payment, which lifted Wall Street yesterday.
The FTSE 100 rose 0.4% this morning, lifted by mining stocks. JD Sports Fashion gained 2.2%, after announcing its acquisition of Cosmos Sport S.A. Meanwhile, Money transfer company Wise dipped 4.3% after a co-founder announced he would sell 1.1% of his Class A shares.
Flash purchasing managers index survey data for October for Britain, the euro zone and the United States will be closely watched today.
Things to read:
Hedge Funds are Thriving Amid Inflation Wary Markets (Bloomberg)
Evergrande is Living Dead Despite Bond Payment (Bloomberg)
Investors flee Gold for Cryptocurrencies as Inflation fears rise (Financial Times)
BoE chief economist predicts 5% UK inflation (Financial Times)