The FTSE 100 fell slightly in early trading, and then stabilised at around 4,740 points.
There are two big stories out of the UK this morning. ONS data for November showed UK inflation easing back from October’s forty-year high of 11.1% to reach 10.7%. And BT has submitted its Equinox 2 offer to regulator Ofcom, with a view to switching more of the country away from old copper cables and onto its full fibre network. BT shares are the biggest gainers among the big caps this morning, rising by almost 4%.
Plenty of news from outside the FTSE 100 as well – London-based Watches of Switzerland announced this morning that it delivered a 23% jump in group revenue in the six months to 30 October, with sales driven by an increase in price and volume.
Higher watch prices shouldn’t be a problem for Louis Vuitton Chief Executive Bernard Arnault, who has replaced Elon Musk as the world’s richest man.
And on the continent, world’s largest holiday company TUI expects a solid trading year as it continues its post-pandemic recovery after the German group swung back to a profit in the last financial year.
In small caps, Software-as-a-solution firm GetBusy has forecast that its results for this year will be slightly ahead of market expectations and says its ambition to double annual recurring revenue remains “firmly on track”.