FTSE 100 was on the rise on Friday after the Halifax report showed the house market continues booming, with prices increasing for the fourth consecutive month. London’s leading index added 26 points to 7,306 in early deals.
British Airways owner IAG expects to make a €3bn loss for 2021 as COVID-19 continues to hammer the travel industry. Passenger numbers have been recovering but are well below pre-pandemic levels.
Uber turned its first ever quarterly profit helped by the end of restrictions across its markets. The ride hailing app has made cumulative losses of over £16bn since foundation in 2009.
In China, the property sector remains a big concern for the market as Kaisa Group has missed a payment to investors. Rival developer Evergrande Group is still grappling with £222bn of debt.
Argo Blockchain issued a statement to provide and clarify information for investors after statements were made by a Twitter user. The company said it held a meeting with Anthony Coyle where representatives of the company inadvertently disclosed certain information.
Silence Therapeutics said healthcare-focused investment firm Frazier Life Sciences Public Fund is now a 3% shareholder in the company. Headquartered in Menlo Park, California, Frazier Life Sciences has raised over US$7.1bn in its three decades and invested in more than 200 companies.
Quantum Blockchain announced the first phase of its FPGA development is complete, marking an important step in its goal is to find faster and more energy-efficient ways to mine cryptocurrency.