Good morning from London where the FTSE 100 is down this morning after comments from Fed Chairman Jerome Powell and Bank of England governor Andrew Bailey that suggest interest rates are likely to stay high.
Discount retailer B&M is the biggest loser from this morning’s trading so far. Elsewhere emergency talks continue between Thames Water, regulators and ministers after fears arose earlier this week that London’s water supplier was teetering on a debt-driven collapse.
The Crown Estate has revealed record profits this morning, but warns of a £500mln hit to the value of its London property portfolio as prices falter.
Revolution Beauty rose again this morning despite sustained pressure from stakeholder Boohoo to publish details of senior executive’s share option awards.
Direct Line opened higher too after the insurer reassured investors that it won’t face any material financial impact after being ordered to address five years’ worth of underpaid claims.
And with the small caps, Ondo InsurTech jumped after announcing a new pilot project with Australia’s largest general insurer.