FTSE 100 made a strong start to the week helped by a decent debut for Glaxo spin-off Haleon and a good showing for tech-focused stocks such as Scottish Mortgage Trust. London’s blue-chip index was 94 higher at 7,253.
Amazon Fresh has joined the price war underway among the grocery chains to keep customers during the cost of living crisis. The grocery arm of Amazon will match hundreds of prices in line with discounts offered by Tesco.
Direct Line fell 14% after becoming the second car insurer to issue a profit warning in the space of a week. Like peer Sabre, Direct Line said claims costs were rising by 10% due to inflation in the prices of used cars, repairs and car parts.
Prices of properties coming to market hit a sixth consecutive record, according to Rightmove. A continuing desire to move and low numbers of supply of homes for sale are driving prices higher it said.
DeepVerge revealed its environmental division, Modern Water, was picked to supply 27 fully integrated Microtox solutions to monitor water toxicity and pollution in Qatar for the 2022 World Cup.
Ondo InsurTech signed an agreement with insurance provider Admiral to provide its LeakBot product to UK customers. It measures air and pipe pressure and detects issues before they are exacerbated.
OnTheMarket announced that that Foxtons (LSE:FOXT) signed a deal for its properties to go on its website. London-based Foxtons will use OnTheMarket.com for residential sales and lettings.