The FTSE 100 opened lower as it took a breather after hitting its highest level since before the pandemic on Monday. London’s leading index dropped 34 points to 7,253 in early trading.
BP PLC (LSE:BP.) (BP PLC (LSE:BP.)) boasted strong underlying results and cash flows and updated the market on its energy transition plans. The oil giant aims to be a lower carbon business by 2025.
Standard Chartered PLC (LSE:STAN) (Standard Chartered PLC (LSE:STAN)) beat expectations with its quarterly profits, helped by a reduction in bad debt write-downs. The bank has suffered COVID-19 disruption but is encouraged by export growth across many of its markets in Asia.
The cryptocurrency inspired by Netflix success Squid Game has turned out to be a scam. The coin lost nearly all of its value when it was found that buyers couldn’t resell their tokens.
Talking about digital coins, Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, NASDAQ:ARBK, ETR:0XP) generated record revenue in the third quarter helped by rocketing cryptocurrencies prices. The miner has bought new facilities that will expand operations next year.
Elsewhere, Sensyne Health PLC (AIM:SENS) (Sensyne Health PLC (AIM:SENS)) has formally begun a process to find a buyer. Its founder and chief executive, who wants to take the data analytics specialist private, has already made an offer.
Shanta Gold Limited (AIM:SHG, OTC:SAAGF) (Shanta Gold Limited (AIM:SHG, OTC:SAAGF), Shanta Gold Limited (AIM:SHG, OTC:SAAGF)) is on track to add a second revenue stream to its gold production interests in Africa by 2023. The miner is progressing with construction at the Singida project in Tanzania.