FTSE 100 slid 55 points to 7,447 as a hammering for US markets overnight on Wall Street soured the mood. British Airways owner IAG is the index’s largest faller despite forecasting profitability for the rest of the year as travel demand rebounds.
The European Union’s ban on Russian oil imports is already at risk amid Hungary’s disapproval. Its Prime Minister will negotiate to meet its needs, with 58% of its oil coming from Russia.
Convenience store chain McColl’s is on the brink of collapse, placing 16,000 jobs at risk. The retailer, which has a partnership with Morrisons, is hoping for a rescue deal.
House prices reached a fresh record high in April as prices grew for the 10th consecutive month. The Halifax said that the growth is expected to slow this year.
4imprint Group expects operating profit for the year to be above forecasts with revenues on track to break US$1bn. The marketer of promotional merchandise said excellent demand led to a strong financial performance in the first four months of the year.
Technology Minerals signed an agreement for the sale of a 10% interest in the Blackbird Creek and Emperium projects. The contract sees Bluebird Metals acquire the project stake for £900,000 in cash.
NetScientifc is acquiring a stake in a former investee company for £300,000. It has conditionally agreed to buy a 30% stake in Vortex Biotech Holdings, having sold a 95% holding in the business in 2019.