Surging energy prices boosted energy stocks, while retailers were boosted by the £7bn takeover by the US private equity group Clayton, Dubilier & Rice of Morrisons. J Sainsbury and Tesco were among the top performers.

London's FTSE 100 is up today, led by banks, but offset by the auto sector after fresh data showed this was the weakest September in 23 years for new car registrations in the U.K.

Inspiration Healthcare Group rose 4.1% after posting a 133% gain in first-half profit, while Melrose Industries fell 1.5% after unveiling an increase in cancellations from its customers in the auto industry due to the global chip shortage.

Investors’ worries remain the same. Brent crude is still above $80 a barrel after OPEC+ producers decided to keep their output policy unchanged.

China's property sector problems continue, and are even worsening. After Evergrande, it is now property giant Fantasia that has missed a coupon payment.

Discussion about the debt ceiling in America are stalling and if the country was to default on debt payments, that could cause U.S. economic activity to shrink nearly 4%, according to Moody’s.

 

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