London blue chips lifted higher this morning after households were boosted by news that energy prices would fall within the next few months.
According to Ofgem's latest price cap, bills for electricity and gas are expected to average £1,568 a year, marking a drop of £122 and taking it to the lowest point in two years.
Meanwhile, the markets have reacted positively to the first round of voting in the French parliamentary election, with the far right taking the lead albeit by a thinner majority than was initially expected. Analysts now believe a hung parliament will be the result after the second round this Sunday, following Marine Le Pen's National Rally taking 33% of the initial votes, while a left-wing alliance received 28%.
Back in the UK, house prices rose in June despite market activity, especially those involving mortgages, remaining subdued. An average home rose in value by 1.5% year-on-year in June, even though the total number of transactions was down by around 15% versus pre-pandemic levels.
In company news, Anglo American was the largest FTSE 100 faller after it dropped 2.5% on the back of news its coal mine suffered a fire. Production at the site in Queensland, Australia was halted and has left a question mark over the group's ability to still quickly offload the asset as part of its recovery plan.
