Spreadex Market Update

UK markets open in the green as strong employment figures are released



The FTSE 100, unlike its European counterparts, has managed decent gains today, as it is currently up 0.20%, unlike the DAX (-0.64%) and CAC (-0.23%).

A large part of the increase today was due to positive employment data as the number of employees rose by 257,000 this month, 424,000 more than pre-pandemic levels.

The employment rate was also up 1.1% compared to pre-pandemic, to 75.5%.

Furthermore, the government announced it will be opening hundreds more vaccination centres across the UK, as it strongly urges people to get their boosters.

Although, Scotland have introduced restrictions today which has slowed down UK markets, and could fill investors with more pessimism into the close.

Ocado were the big winners today as their shares were boosted by over 10% at lunch.

Not only did they win a patent battle, allowing their warehouse robots to enter the US market, but also announced very upbeat forecasts for the Christmas period.

BT were at the other end of the spectrum today as at one point their shares dropped over 7%, as the billionaire, Patrick Drahi, raised his stake from 12.1% to 18%, and stated he did not have any intentions to make an offer for the company.

All three US major indices were down on open as wholesale prices increased by a record 9.6% in November from a year prior, which is the highest ever recorded.

The DOW and S&P both currently down 0.30% and 1.07%, respectively.

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