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FTSE 100 on the front foot

by LLB Reporter
11th Nov 21 9:38 am

The FTSE 100 started Thursday on the front foot, shrugging off any hangover from the latest surge in US inflation,” says AJ Bell investment director Russ Mould.

There was plenty to unpick for investors from corporate events on the other side of the Atlantic overnight including divergent fortunes for two electric vehicle plays.

AJ Bell’s Russ Mould said: “Tesla continued to slump as founder Elon Musk sold $5 billion worth of shares after responding to a Twitter poll. Maybe running your business according to the whims of social media isn’t such a good idea.

“Heading in the opposite direction was newly listed electric truck and van maker Rivian Automotive which enjoyed a super-charged debut as investors reacted with excitement to its backing from Amazon and its R1T pick-up truck which has earned rave reviews since its recent launch.

“While Americans may have bought into the idea of going electric with their vehicles to save the planet, it appears cutting out meat is proving a step too far as plant-based food firm Beyond Meat revealed a sluggish sales outlook.

“Disney was down in the dumps as its Disney+ platform missed subscriber growth targets as well as falling short on revenue and earnings. Delays to key releases and a mixed reaction to some of its more recent films and shows has set it back in what remains an extremely competitive streaming market.

“The House of Mouse needs to get its house back in order if it is to hit CEO Bob Chapek’s ambitious targets.”

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