The FTSE 100 dropped again, though it is attempting to rally from heavy early falls. Yesterday, the index slid 2% on general economic gloom and is down 9 at 7,159 today.
Spare a thought also for US investors, where Wall Street had its worst six months in over half a century as soaring inflation put the economy into turmoil. Cryptocurrencies had their worst quarter in 11 years.
The European Union meanwhile has agreed on rules for regulating crypto assets, which are expected to come into force at the end of 2023. The new law, known as markets in crypto assets (MiCA), was agreed by representatives from the EU states and the European Parliament.
Aston Martin is its considering funding options including hundreds of millions from Saudi Arabia’s sovereign wealth fund. The luxury carmaker has £1.2bn of existing loans, bank drafts and bonds on its balance sheet.
More positively in the luxury car market, Lamborghini is set to invest US$1.9bn in the path towards electrification, while Volvo said it has committed to building a US$1.25bn electric-only plant in Slovakia.
Harry Potter publisher Bloomsbury Publishing PLC (LSE:BMY) was named Company of the Year at the annual Small Cap Awards. “We are delighted to have been presented with Small Cap Network's Company of the Year Award for 2022,” said chief executive Nigel Newton.