5 things to watch on the FTSE 350 on Tuesday 11 Oct 2022

The FTSE 350 has fallen for four days in a row…

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.

Stack of British pound coins falling on list of share prices

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.

Any optimism at the start of the new week receded, as the FTSE 350 quickly started dipping on Monday.

FTSE in the red

The FTSE 100 dropped 32 points (0.5%) to end Monday on 6,959 points. That’s despite news that the government now intends to reveal its fiscal plan on 31 October. Unless, of course, political minds change yet again and it doesn’t.

Rising bond yields, increasing the cost of government borrowing, didn’t help. And it happened despite the Bank of England’s efforts to control things.

The FTSE 350 lost 22 points for a slightly bigger 0.6% fall, ending at 3,827 points.

Among the fallers of the day we saw Centrica and Rolls-Royce. DS Smith was the biggest FTSE 100 winner, gaining a heady 12% after releasing an upbeat trading statement. The shares are still down 30% in 12 months, though.

Moneysupermarket.com led the mid-cap FTSE 250 index with a 7.5% climb.

US markets

US markets slipped similarly, with the S&P 500 dropping 28 points (0.8%) to end Monday at 3,612.

The Nasdaq ended the day at 10,542 points, down 110 points for a bigger 1% fall. The tech stock index hasn’t managed to break above the 11,000 level yet this week. Perhaps on Tuesday.

Retail sales

There’s very little company news coming Tuesday, so not much to tell us what’s really happening. But the day should start with the latest UK retail sales figures, and those could set the scene for results from retailers in the coming weeks.

The uncertainty and anticipation might well have been holding back the markets Monday. And the figures might set the scene for Tuesday’s movements.

Broker updates

We’re seeing a little optimism from brokers this week, with JP Morgan raising its price target for Imperial Brands, while keeping its positive target for HSBC Holdings steady. The same broker, together with Barclays, is also upbeat on Diageo.

Meanwhile, Deutsche Bank has reiterated its 180p price target for Aston Martin Lagonda. With the shares at 90p, some might consider that optimistic.

Oil slips

The oil price has been rising since Opec+ announced its production reduction. But it held back a little Monday, with Brent Crude dipping below $96 per barrel after having previously risen above $98.

Commentators reckon its all down to investors considering the likelihood of a global recession. And how any resulting reductions in fuel demand could weight against the restrictions in supply.

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.

JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. The Motley Fool UK has recommended Barclays, DS Smith, Diageo, HSBC Holdings, Imperial Brands, and Moneysupermarket.com. 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 »