TSE 100 lost some of its early gains but was still in the black as investors looks towards the US interest rate decision later today. The blue-chip index was up 29 points 7,217 an hour after the open with Whitbread and the LSE standing out.
Whitbread said it is confident of delivering a strong first-half performance as trading in the UK and Germany beat expectations. Premier Inn accommodation sales were 27.2 percentage points ahead of the market, the hotel and pub owner said.
BP has bought a 40.5% stake in an Australian renewable energy hub, tipped to have the potential to become one of the world’s largest green hydrogen suppliers. Areh, or the Asian Renewable Energy Hub, will generate up to 26GW of wind and solar energy from Australia’s Pilbara region.
A first payment to 8mln poorer households to help alleviate the cost of living crisis is expected to enter bank accounts from mid-July, according to the government. Low-income households will receive £326 next month as the first part of a support package worth £21bn.
Bloomsbury Publishing has proposed a 24% increase in its dividend and reported record annual revenues and profits, saying "reading has become a reacquired habit and continues to thrive". The Publisher of Harry Potter added the strong sales have continued in the first quarter of the new year.
Redx Pharma said a US$5mln milestone payment has been triggered under its deal with America’s Jazz Pharmaceuticals. It follows the award of investigational new drug status by US regulators for a discovery made by the UK group.