A motley assortment of sectors led the FTSE 350's bounce on Wednesday despite the release of weaker-than-expected economic data and the political ructions in Downing Street.
Oil&Gas and Industrial Metals plummeted on Tuesday amid a downdraft on the wider FTSE 350, despite a large move lower in sterling.
Big Oil helped drive a bounce on the FTSE 350 at the start of the week after analysts at JP Morgan sounded a wary note on plans now under consideration in the West to impose a price cap on exports of Russian oil.
Cyclicals paced losses on the FTSE 350 at the end of the month with a retreat in shares of Aston Martin to fresh lows punctuating another weak for its sector.
Investors sought out the more defensive areas of the market on Wednesday, including Pharmaceuticals and Gas, Water and Multiutilities, as the head of the US central bank sounded a somewhat hawkish note.
Aerospace and Defence paced gains in the stockmarket on Tuesday as the NATO summit in Madrid got under way with shares of Babcock, Rolls-Royce and BAE Systems all catching a bid.
Cyclicals including Industrial Transportation and Life Insurance names paced gains at the end of a positive week for the FTSE 350.
FTSE 350 stocks fell on Thursday as a spate of manufacturing and services sector surveys in the US and euro area printed well below economists' forecasts, feeding concerns around the outlook for the global economy.
Global recession fears led to selling on the FTSE 350 on Wednesday although the lack of any more hawkish than expected remarks out of the head of the Federal Reserve in testimony before Congress helped to stem losses.
Commodity plays fared worst at the end of the week as talk of recession fears replaced that of inflation worries in the wake of the Federal Reserve's surprise 75 basis point interest rate hike the day before.
Stocks fell sharply on Thursday as the Bank of England raised interest rates as expected and the Swiss National Bank surprised with a 50bp hike, with the latter, in particular, feeding talk in markets of recessionary risks.
If it was banks that paced gains the day before, on Wednesday market leadership went to investment banking and broker names.
Banks' shares managed to swim against the tide of a falling stock market on Tuesday as investors played it safe going into the announcement of the US central bank's policy decision scheduled for the next day.
Cyclicals paced losses on the FTSE 350 at the start of the week as speculation mounted over the weekend that the US central bank might decide to surprise financial markets with a 75 basis point interest rate hike.
Construction and Materials was the worst performing of the FTSE 350's sectors at the end of a week that saw US consumer price data print above economists' forecasts.
Precious metals miners were at the bottom of the pile on Thursday as the greenback caught a bid in the wake of the latest European Central Bank policy announcement and ahead of a potentially market-moving US consumer price report due out the next day.
Cyclicals paced losses on a slightly down day for the FTSE 350 after the Reserve Bank of Australia surprised many in financial markets with a 50bp interest rate hike.
Shares in Industrial Metals & Mining names were among the best performers on the FTSE 350 at the start of June as UK investors reacted to news that Chinese authorities were easing Covid-19 restrictions.
Electricity stocks were at the bottom of the pile on Tuesday following fresh reports that government was plotting to raid electricity generators' 'excess profits'.
Telecommunications Service Providers, Automobiles and Parts, and Banks paced gains on the FTSE 350 at the start of the week.