The FTSE 100 opened in a subdued mood as investors braced for a big interest rate rise from the Bank of England after the US federal reserve upped rates by 0.75% yesterday.
The index was down slightly on the day at around 7,100 points. Sainsbury’s grocery sales were up by 9.3% on pre-pandemic levels in the last quarter, supported by extensive promotional activity.
Rolls-Royce maintained its guidance for 2022 but says a recovery in the civil aerospace sector is being offset by a rise operating costs.
Incoming Twitter CEO Elon Musk could cut up to half of the firm’s workforce after already sacking the entire board.
Logistics group Xpediator said it continues to trade healthily and is on track to meet full-year management expectations for underlying profits of £9mln.
Big data specialist 4Global has strengthened its strategic partnership with the Al Jassra Group through a contract win for ‘a major sporting event taking place this year in the Middle East’.
Kurdistan-focused oil producer Genel Energy expects its cash holdings to top US$500mln by the end of 2022 after a combination of another strong production quarter and high oil prices.