Good morning from London where the FTSE 100 has fallen heavily this morning, while the gold price continues to climb – classic signs of a jittery market. The gold price has been climbing steadily since the Hamas attacked Israel on the 7th October, and is getting close to that all-important $2,000 per ounce ceiling.
Looking at the FTSE 100 itself now and there are some other reasons beyond geopolitical concerns for why we’re currently down to ten-day lows. Shares in Rentokil and Rightmove are both down by double digits – Rentokil because its warned today that its trading in the US will come in below expectations this year and Rightmove because rival property website onthemarket has announced this morning that its going to be taken over by US-based CoStar for £99mln.
Zooming out from the FTSE100 now and Britishvolt’s new owners are said to be close to a deal to acquire the collapsed company’s proposed Gigafactory site in Blythe, Northumberland, according to a report today.
And finally over in the US Federal Reserve Chair Jerome Powell will be delivering a keenly-awaited speech about the US’ battle against inflation this afternoon UK time, which should reveal a little bit more about what the global economy can expect to see next. Stay tuned to our Proactive website for all the news as it happens and have a great day.