Image Alt

The Investing Box

  /  Editor's Pick   /  5 things to watch on the FTSE 350 on Wednesday

5 things to watch on the FTSE 350 on Wednesday

Middle-aged white man wearing glasses, staring into space over the top of his laptop in a coffee shop

We’re heading into Wednesday on the back of a weaker Tuesday. Global stock markets, including the FTSE 350, slipped back after the US consumer price index rose by 8.3% in the year to August.

Stock market nerves

The FTSE 100 fell 87 points Tuesday (1.2%) to 7,386, while the FTSE 350 shed 52 points to close the day at 4,093.

Both are still slightly above last week’s close. But heavy US losses could send the FTSE indexes down further on Wednesday. The S&P 500 ended the day down 4.3%, with the Nasdaq falling a whopping 5.2%.

Investors might want to keep an eye on Ocado, Tuesday’s biggest FTSE faller, to help gauge sentiment.

Full-year results

We have full-year results from home furnishings seller Dunelm coming Wednesday. The shares have lost 50% over the past 12 months. But that’s after a pandemic boom which boosted online retailing. The Dunelm price fell 5.2% Tuesday, in advance of the figures.

Redrow will report its full-year, in a sector that’s out of favour in 2022. Other housebuilders have revealed a robust first half, but the economic squeeze hadn’t really set in. Maybe Redrow can give us some hints on how H2 is looking.

Oil share news

Wednesday brings first-half figures from Tullow Oil. The mid-cap oil explorer has previously suffered under its debt burden. But today’s higher oil prices are helping, and the share price has gained 25% over the past 12 months.

The oil price had been weakening since August. But for now, Brent Crude is holding steady at around $93 per barrel. BP and Shell both ticked up slightly Tuesday, despite the overall market dip. Investors might be optimistic on Oil and Gas shares Wednesday.

Dividend updates

Melrose Industries Industries shareholders expecting their stock to go ex-dividend Wednesday will now have to wait another day after the company issued a correction. Anyone who wants the interim cash has one more day to buy.

Meanwhile, interim dividend payments should be on their way to Reckitt Benckiser and Fresnillo shareholders.

Economic fears

The UK consumer price index (or, in other words, inflation) climbed as high as 10.1% in the 12 months to July 2022. And there’s been speculation that it could peak at around 14% before starting to cool.

The latest instalment in the saga comes Wednesday, with the consumer price index and the retail price index both set to be released. These updates will tell us what happened in August — and US inflation figures released Tuesday may well presage disappointing news.

The post 5 things to watch on the FTSE 350 on Wednesday appeared first on The Motley Fool UK.

6 shares that we think could be the biggest winners of the stock market crash

The hotshot analysts at The Motley Fool UK’s flagship share-tipping service Share Advisor have just unveiled what they think could be the six best buys for investors right now.

And while timing isn’t everything, the average return of their previous stock picks shows that it could pay to get in early on their best ideas – particularly in this current climate!

What’s more, all six ‘Best Buys Now’ are available to access right now, in just a few clicks.

Learn more

setButtonColorDefaults(“#5FA85D”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43A24A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#FFFFFF”, ‘color’, ‘#FFFFFF’);

More reading

The Motley Fool UK has recommended Fresnillo, Melrose, Ocado Group, Reckitt plc, and Redrow. 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.