Hot, hot, hot, no getting away from it today as the UK sweltered again in record temperatures. London’s blue chip index headed for the shade with the index down 26 at 7,197.
Rail services across the UK have been shut down to record temperatures. Passengers in the Midlands, London and North were again urged not to travel due to the problem of tracks buckling under the heat.
Lidl and Aldi hit a UK combined market share of 16% as grocery inflation soared. The budget retailers saw sales climb higher as customers seek out cheaper alternatives amid the cost-of-living crisis.
SoftBank has halted plans for a London listing of Cambridge-based chip designer Arm, due to the political situation in the UK. Boris Johnson, ministers and executives from the LSE have been involved attempting to persuade Japanese SoftBank to at least consider a partial listing.
Among the small caps, One Media IP reported a 13% jump in sales, driven by “new acquisitions, organic growth and active management of its portfolio.” It also expects the supportive market backdrop for music steaming to continue.
Tissue Regenix said it is on track to meet full-year expectations after reporting double-digit revenue growth in the first six months of 2022. Cash is sufficient to fund its growth ambitions said the statement.
Blencowe Resources has completed a pre-feasibility study for its Orom-Cross graphite project in Uganda. The study showed a net present value of US$482mln, a 52% boost on the number previously.