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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.

FTSE 100 bounce is threatened by Covid

11/22/2021 | 04:36am EST

The week ended in the red in London, weighed down by rising Covid infections and new curbs in Germany and Austria. Energy and consumer cyclical stocks were the biggest fallers due to a drop in energy prices. The FTSE 100 fell 0.5% on Friday, and 1.7% for the week.

This FTSE 100 bounced back this morning, rising 0.4%, with BT Group jumping 2.8% and Vodafone 2.1%, following a rally in the sector after U.S. fund KKR presented a non-binding proposal to buy Italy's Telecom Italia.

BHP Group was also up due to its merger with Woodside Petroleum, while Marks and Spencer rose 3.1% on the rumour that private equity giant Apollo Global Management is considering a buyout of the company.

Investors are closely watching the Covid situation in central Europe, fearing that Germany could go into full lockdown and other countries could do so as well, just weeks before Christmas.

Things to read today:

Brussels to curb banks’ use of ‘cross-border’ permissions to access EU (Financial Times)

Modern Monetary Theory Isn’t the Future. It’s Here Now (WSJ)

ę MarketScreener.com 2021
Stocks mentioned in the article
ChangeLast1st jan.
APOLLO GLOBAL MANAGEMENT A -1.04% 68.83 Delayed Quote.-4.97%
BHP GROUP -1.14% 46.15 Delayed Quote.12.48%
BT GROUP PLC 1.84% 182.85 Delayed Quote.5.93%
FTSE 100 0.76% 7600.01 Delayed Quote.2.15%
KKR & CO. INC. -0.66% 69.4 Delayed Quote.-6.85%
MARKS AND SPENCER GROUP PLC 0.04% 223.5 Delayed Quote.-3.50%
VODAFONE GROUP PLC 1.39% 119.86 Delayed Quote.5.36%
WOODSIDE PETROLEUM LTD 1.69% 25.24 Delayed Quote.13.18%