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 rebound continues

05/11/2022 | 05:33am EDT

After yesterday's rebound, the UK's FTSE 100 is up again on Wednesday, lifted by commodity stocks, as well as a positive earnings update from Compass Group.

Risk-off sentiment is still present amongst investors, who favor defensive sectors, such as Utilities and health care. Meanwhile, resources and technology fell due to continued growth fears The yield of 10Y UK Gilts also fell 10bp.

Today, investor are eagerly awaiting the U.S. inflation data, which will guide the Federal Reserve's monetary policy.

Miners are among the top performers, lifted by rising metal prices. Oil companies are also doing well, with Shell and BP plc gaining 0.6% and 1.1%, respectively, as crude prices increase.

Meanwhile, Compass Group jumped 8.5% after it raised its annual revenue guidance and announced a £500 million share buyback.

 

Things to read today:

Euro to hit parity against the dollar within six months, Amundi says (Financial Times)

1 Million Britons Set to Live in Destitution Think Tank Warns (Bloomberg)

TerraUSD Stablecoin Plunges as Crypto Market Awaits Rescue (Bloomberg)

 


© MarketScreener.com 2022
Stocks mentioned in the article
ChangeLast1st jan.
BP PLC 2.77% 386.05 Delayed Quote.16.81%
COMPASS GROUP PLC 3.87% 1704.5 Delayed Quote.3.24%
FTSE 100 2.68% 7208.81 Delayed Quote.-2.38%
SHELL PLC 2.88% 2087.5 Delayed Quote.28.72%