Good morning from London where the FTSE 100 is off to a steady start to the week so far, as investors continue to mull last week’s interest rate pauses by central banks.
London’s blue-chip index is virtually unchanged from Friday at around 7,420 points with a bullish update from Ryanair the only real standout. The low-cost airline is to pay its first ever dividend after half-year profits hit nearly €2.2bn. The €400m payout amounts to a quarter of annual profits buoyed by an 11% rise in passengers and higher fare prices.
Elsewhere, Tech investor Scottish Mortgage Trust’s net asset value fell in the first half of the year but said it is still backing its strategy in the long-term. Insurer Prudential’s sales stormed ahead in its latest quarter with new business up 37% on higher Asian demand for life insurance, health insurance and pensions. It says momentum has continued into the fourth quarter.
In small caps, 88 Energy is claiming some 250 million barrels of contingent oil equivalent resources in one reservoir in Alaska, where the company is working on developing what it calls Project Phoenix.
And fellow oil & gas junior Plexus meanwhile has seen a 20% jump in its share price this morning as it revealed more orders for its well-head technology.
Those are the main points so far but stay tuned throughout the day for all the latest news as it happens.