marketsClosed Oct 19, 2023
UK Stocks at Lowest Level in a Year as Consumers Struggle: Markets Today
- Domestically-focused FTSE 250 is under pressure from sticky UK inflation, a weakening housing market and vulnerable consumer spending, while the international FTSE 100 is supported by higher oil prices
- London overtakes Paris as Europe’s biggest stock market by value, helped by a slide in France’s biggest luxury stocks as the sector falls out of favour across the region
- Rentokil sinks after flagging weaker-than anticipated performance in its US pest control business, Rightmove drops on concern a US purchase of a rival platform will intensify competition, Hargreaves Lansdown drops as clients continue to pull money to handle the higher cost of living
- Join the Markets Today team -- David Goodman, Sam Unsted, Sofia Horta e Costa and Kristine Aquino -- for more news and analysis vital to UK markets, and email us at MarketsToday@bloomberg.net
We get a triple-bill of reports tomorrow which, according to economists’ forecasts, might all provide fairly bad news for the UK.
First, we have GfK’s consumer confidence report, which comes at overnight, and then the ONS reports retail sales and public finances data at 7 a.m. Analysts expect the sentiment index to stay depressed, sales to fall and borrowing to rise.
Whatever happens, we’ll on hand to sift through the data so join us bright early tomorrow for full coverage.
Until then, have a good evening, and remember you can email us at marketstoday@bloomberg.net
