China's GDP guidance weigh on British miners

Equity markets managed to bounce back last week, boosted by Broadcom’s strong guidance. Miners also outperformed thanks to strong economic data from China and a weaker dollar. The FTSE 100 added 0.9% for the week.

However, it was down 0.1% this morning as miners fell after China unveiled a lower-than-expected gross domestic product target of 5% for the year.

Among individual stocks, Flutter Entertainment jumped 1.8% after Citigroup raised its price target to 13,500 pounds from 12,500 pounds.

Meanwhile, Tech group WANdisco announced plans to list shares in the US, saying it was “in the early stages of proactively exploring”.

 

Things to read today:

The UK economy has two regional problems, not one (Financial Times)

Wall Street Concedes There Is Finally an Alternative to Stocks (WSJ)

UK PM Sunak Rejects Calls to Cancel Increase in Business Tax (Bloomberg)