Lifted by rising oil prices, oil majors are among the best performers. Marks & Spencer’s share also soared after the retailer posted strong profit and raised its annual guidance, while Halfords Group climbed 12.1% after it upgraded its full-year earnings outlook due to easing supply chain disruptions.

So far, 81% of the S&P 500 companies beat estimates so far, which is cheering investors, despite persistent inflation. The U.S. consumer price index is expected to reach an annualised 4.3%, versus the Fed's average annual 2% inflation target, according to a Reuters poll of economists.

 

Things to read today:

Bonds are a blind spot in ESG Investing (Financial Times)

Chancellor vows to turbocharge City with Post-Brexit purge of EU rules (Daily Telegraph)

European gas prices slump as Russia finally increases supply (Bloomberg)