Good morning from London where the FTSE 100 is up so far today, bolstered by a strong start from Rolls-Royce. The manufacturing giant has announced 2,500 job cuts as part of a major restructuring effort in a move that certainly seems to have convinced investors – their shares are now trading at close to post-Covid highs.
The FTSE’s major miners are all looking a bit green around the gills in comparison, opening lower on market concerns over the conflict brewing in the middle east – that’s what Reuters are saying anyway.
Online retailer THG also fell at the open as investors seemed not to believe reassurances that the group’s Q3 was its best quarterly performance so far despite a fall in revenues.
Former Telegraph owners the Barclay family have tabled a £1 billion bid to take back control of the newspaper, they’re back at the negotiating table after securing new backing from investors in Abu Dhabi-based.
And in small caps, Poolbeg Pharma soared after announcing it had inked a new collaboration deal with an unspecificed Nasdaq-listed firm. And you can watch my interview with CEO Jeremy Skillington right here on Proactive.