The FTSE 100 ticked down slightly in early trading, ahead of UK Chancellor Jeremy Hunt’s public spending and taxation announcement later today.
Royal Mail owner IDS has repeated warnings that the company could be split up if significant changes are not made. The warnings come after it reported an operating loss of £163mln.
High end fashion firm Burberry reported a 5% increase in revenues to £1.35bn as sales growth accelerated. Second quarter sales were boosted by a pick-up in Asia following the easing of Covid restrictions in China.
Amazon has reportedly begun laying off staff in its devices group after it emerged earlier this week that it plans to cut 10,000 jobs.
In small caps Shanta Gold said its latest drilling update from the Isulu deposit in the West Kenya project includes some of the best results it has announced this year.
Gfinity has been named by the Saudi Pro-League as its exclusive esports strategy development partner.
And Cornerstone FS says the strong trading seen in the first half of 2022 has continued, meaning that revenues for the year will be approximately £4.3mln, up 87% over 2021.