Good morning from London where the FTSE 100 is down in early trading. Some news from the ONS this morning that inflation in the UK remained unchanged month on month in September at 6.7%, with the downward trajectory interrupted by higher fuel prices.
Housebuilders have taken the brunt of market reaction to the news, since stubbornly high inflation makes it less likely that the Bank of England can cut interest rates at its next meeting in early November. Barratt, Taylor-Wimpey and Berkely are today’s three biggest losers so far.
Looking at a few equities now and Premier Inn owner Whitbread jumped early on after hiking its dividend on the back of strong half year revenue and profits. William Hill owner 888 Holdings went the other way, pointing to tougher gambling rules as third quarter revenues took a bit of a knock.
And finally, building materials Marshalls is one of today’s big risers so far, after it reiterated its full-year guidance.