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Dynamic quotes 
OFFON

Inflation and China fears weigh on UK markets

09/16/2021 | 05:13am EDT

UK markets continue to struggle for direction, after a higher close on Wall Street but a weak session in China due to regulatory concerns and poor economic data, with retail sales in the country only growing by 2.5%, compared to expectations of 7%.

China's tech and real estate giants are under pressure, and European markets are starting to feel the pinch, especially in industries reliant on Asian shoppers.

The blue-chip index was up 0.5% this morning, lifted by aero and defense stocks.

Among stocks, AstraZeneca jumped 0.9% after JPMorgan said it remains optimistic on the case.

After releasing an upbeat guidance, Ashtead soared 3%, while IG Group Holdings climbed 4.9%, after it said its revenues were boosted by the acquisition of online brokerage Tastytrade.

Markets digested inflation data in the UK, where the CPI increased 3.2% YoY, strengthening fears that the Bank of England will act soon to raise interest rates. Investors will focus today on U.S. retail sales data, due at midday, which should offer clues as to when the Fed will unveil plan to reduce its asset purchases.

 

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© MarketScreener.com 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASHTEAD GROUP PLC -0.07% 5930 Delayed Quote.72.48%
ASTRAZENECA PLC 0.55% 8739 Delayed Quote.19.32%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.22% 0.74919 Delayed Quote.-3.63%
BRITISH POUND / US DOLLAR (GBP/USD) 0.06% 1.38008 Delayed Quote.0.45%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.06% 0.8095 Delayed Quote.2.92%
EURO / US DOLLAR (EUR/USD) 0.12% 1.1644 Delayed Quote.-4.92%
IG GROUP HOLDINGS PLC 0.55% 826.5 Delayed Quote.-4.12%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.01% 0.013316 Delayed Quote.-2.86%
JPMORGAN CHASE & CO. 1.21% 168.57 Delayed Quote.31.07%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.28% 0.71733 Delayed Quote.-1.26%
S&P 500 0.74% 4519.63 Delayed Quote.19.04%