Good morning from London, where the FTSE 100 has fallen heavily in early trading to reach two month lows. Ofgem’s announcement of lower energy prices from July failed to overcome the negative sentiment from continued deadlock in US debt ceiling talks and news of recession in Germany.
United Utilities shares also took the plunge early on, with the water company using the opportunity of a 42% slip in full-year pre-tax profits to pledge a reduction in pollution and sewage leakages.
A more positive picture over at premium mixer makers Fevertree, who have reiterated full-year guidance of revenues between £390m and £405m Pets at Home also looking punchy, benefiting from the ongoing boom in pet ownership to record record sales and launch a £50mln share buyback.
And over in America, Nvidia shares rocketed after the US close yesterday, as the computing firm raced past expectations to deliver US$7.2bn in revenues for the first quarter.
And finally in small caps, European Metals shares are up after the mining company hailed outstanding metallurgy results from its Cinovec lithium deposit in the Czech Republic.