The morning report with Katie Pilbeam.
FTSE 100 opened slightly lower, losing 8 points to 7,605. London’s blue-chip index largely resisted the stock slide seen in America as investors mull the prospect of quantitative tightening from the US Federal Reserve.
Twitter confirmed that it was working on an edit button for tweets but denied that the idea came from Elon Musk. The billionaire acquired just over am 9% stake in the company this week which sent the shares soaring.
Imperial Brands leads the way as the Footsie’s biggest climber so far today. The tobacco company informed investors in its trading statement that it is on track to deliver full-year results in line with its revised guidance.
The cost of filling a family car with petrol was a third higher in March than a year ago, while it was 40% more expensive for a diesel car. According to RAC Fuel Watch, the chancellor’s 5p fuel duty cut has had little to no effect.
Among the small caps, Gaming Realms gained exposure to Ontario, Canada, with seven mobile games launched. More content is expected to be certified “very soon”, with agreements to go live with many leading operators.
Afritin Mining laid out a plan to more than triple tin production in the coming five years, as well as significantly increasing its lithium and tantalum output. This should raise its revenues five-fold to US$100mln a year.
Eco (Atlantic) Oil & Gas raised nearly £20mln in an oversubscribed City fundraiser – cash that will bankroll its exploration efforts offshore South Africa. Investors subscribed for shares at 30p via a stock placing and a retail offer overseen by Primary bid.