London's FTSE 100 was going nowhere early on as inflation returned to top of the agenda. Strong jobs data and tomorrow’s retail price update meant the UK’s leading index was down 10 at 7,341.
People in work in the UK rose by 160,000 in October compared to September even with the end of the furlough scheme. Job vacancies also hit a fresh record high of 1.17mln while salaries rose by 4.9%.
Rents across the UK meanwhile are rising at the fastest pace since 2008 according the property website Zoopla (LSE:ZPLA). Private sector rents in September were 4.6% higher than a year earlier at £968 a month on average.
JPMorgan has sued Tesla for US$162mln over warrants that it had issued to the car manufacturer back in 2014. The warrants had expired in June and July of this year, with JPMorgan claiming the difference in the current share price and ‘strike price’ are owed by Elon Musk’s company.
Among the small caps, LoopUp’s Cloud Telephony business unit has won eight additional contracts recently, it said. That takes its total contract wins to 23 for 2021, with potential revenues totalling £7.9mln.
AdEPT also said it will meet management expectations in the current fiscal year after a strong first-half performance. The telephony specialist increased revenue by 20% in the six months to end September.
Coro Energy shares jumped as it said it has signed binding agreements to enter the Vietnamese solar market. The group will partner with local firm VPE to develop a portfolio of commercial and industrial rooftop solar PV installations.