5 things to watch on the FTSE 350 on Monday 10 Oct 2022

The FTSE 350 remains clouded in uncertainty…

The content of this article was relevant at the time of publishing. Circumstances change continuously and caution should therefore be exercised when relying upon any content contained within this article.

Tabletop model of a bear sat on desk in front of monitors showing stock charts

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More.

It looks like we could be in for another very uncertain week for the FTSE 350 this week.

Still below 7,000

The FTSE 100 ended last week with three days of losses in a row. But at least they were relatively small ones. The top index even briefly broke through 7,000 points on each of those days, but wasn’t able to hold on. It ended Friday at 6,991 points, up 97 points (1.4%) on the week.

The FTSE 350 followed a similar path through the week, ending the week on a modest overall gain of 52 points (1.4%), at 3,849 points.

US stability

Markets in the US had a steadier week, following on from a volatile spell. The S&P 500 recorded a relatively modest gain of 54 points (1.5%) to finish Friday at 3,640 points.

The Nasdaq put in a weaker recovery. Though it looked like the tech stock index was set to finish the week back above the 11,000 point level, it dipped again on Friday and ended at 10,652, just 76 points (0.7%) up.

Major US growth shares, like Tesla, are still having a tough time. The electric vehicle maker’s stock fell 16% over the week.

Company updates

There’s not much company news coming on Monday, but a couple will deliver important updates. In the FTSE 100, student accommodation provider Unite Group will bring us a trading update. The Unite share price has fallen 24% in the past 12 months. Sirius Real Estate, in the FTSE 250 will also release a trading update.

Waste management firm Biffa is scheduled to pay out its final dividend Monday. And the Henderson Smaller Companies Investment Trust will do the same.

Week ahead

Sports betting firm Entain will bring us a trading update on Thursday, and it should give us some feedback on where discretionary spend on gambling is going. It’s probably not upwards, judging by a 47% share price fall in 12 months.

Investment manager Rathbone Brothers is set to deliver an update Thursday too, in a tough investment environment. The shares are down 11% over 12 months.

Oil rising

Much of last week’s later weakness possibly stems from the OPEC+ production cut, as we see the price of oil rising. A barrel of Brent Crude is up at $97 now. And Goldman Sachs has already lifted its price forecasts and sees it reaching $110 this quarter.

Markets could well remain jittery until we see oil steadying at a new level.

Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

The Motley Fool UK has recommended Rathbone Brothers. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

More on Investing Articles

Young black colleagues high-fiving each other at work
Investing Articles

I’d buy this penny stock with its 5% yield and growth prospects before it soars!

Our writer breaks down this penny stock with its current enticing yield and explains how growth potential could help it…

Read more »

Young black man looking at phone while on the London Overground
Investing Articles

Is buying one of the best performing FTSE 100 stocks in 2023 wise right now?

Volatility has hurt many FTSE 100 stocks. Is one of the better performing shares on the UK’s premier index a…

Read more »

Young Caucasian woman with pink her studying from her laptop screen
Investing Articles

Is the Shein IPO a nightmare for the boohoo share price?

It was revealed today that Chinese fast fashion giant Shein is preparing to go public in the US. What now…

Read more »

Aerial shot showing an aircraft shadow flying over an idyllic beach
Investing Articles

Is the easyJet share price set to soar in 2024?

The easyJet share price is lower today than in the 2020 stock market crash. Can that be right? Might it…

Read more »

British bank notes and coins
Investing Articles

Should I buy M&G shares for the 9.8% dividend yield?

With the M&G dividend yield close to double digits, this existing shareholder explains why he'd happily buy more of the…

Read more »

British Isles on nautical map
Investing Articles

This cheap UK stock could rise 30%, the City says

Analysts covering Serco Group shares reckon they could rise by over a quarter. But is this UK stock a good…

Read more »

2024 year number handwritten on a sandy beach at sunrise
Investing Articles

Here’s how I’d aim for a million by investing £45 a day

Christopher Ruane thinks putting £45 a day into blue-chip shares could help him aim for a million. Here are some…

Read more »

Light trails from traffic moving down The Mound in central Edinburgh, Scotland during December
Investing Articles

I’d buy FTSE 100 shares in December before the next stock market rally!

Christopher Ruane explains why he would happily snap up cheap FTSE 100 shares between now and the end of the…

Read more »