Spreadex Market Update

Poor day for the FTSE as UK job ads worry investors



Having recently hit its 20-month high, the FTSE is currently down -0.5% as UK job adverts reached a new record, due to labour shortages continuing to be an issue.

According to the Recruitment and Employment Confederation (REC), the growth in job adverts showed no signs of slowing down in the build up to Christmas.

The FTSE has also not been helped by Astrezenca currently losing almost 6% of their share price, as the Pharma stock announced it is going to start taking profits from their COVID vaccine.

This comes after posting higher than expected quarterly sales of more than $1 billion.

Many will be hoping this is a blip in the overall trend of UK markets recently, as next week could be crucial with news on CPI and Unemployment being released mid-week.

US markets on the other hand received a boost from Johnson & Johnson, as it opened over 2%.

This is thanks to them announcing a plan to split into 2 sperate companies. One will continue in pharmaceuticals which includes their covid-19 vaccine. The other part will focus on consumer health, that sells Band-Aid and Tylenol.

On the other side of the world, Asian markets have seen a strong uptrend as Singles Day, similar to Black Friday, has seen record sales.

Alibaba recorded sales over $84 billion during the 11-day period. Although despite the event growing 8.5% from last year, it was surprisingly the first time it failed to register double digit percentage growth.

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