The FTSE 100 opened steadily adding 20 to 7,652 with plenty of UK news to digest for investors.
Shop price inflation fell in January to its lowest rate since May 2022 as retailers offered heavy discounts to entice customers. According to the British Retail Consortium-NielsenIQ, prices were 2.9% higher than a year ago, down from 4.3% in December and below the three-month average of 3.9%.
Johnnie Walker and Guinness owner Diageo slid again as half-year revenue and operating profit fell, reflecting a 23% decline in Latin America & Caribbean sales. Operating profit dropped by 11%.
Retailer Pets At Home also warned about sales, which “fell below its own expectations” in the last three months as discretionary spending slowed. Full-year profit guidance is now around £132 million from £136 million three months ago.
Saga was an early riser as the over 50s specialist said a rebound in travel would mean profits doubling this year.