FTSE 100 inched higher, gaining 4 points to 7,605 in moderate trading. Coca Cola and CRH are the index’s two largest risers so far today, gaining over 1% each but offset by some profit taking among the big miners after Rio Tinto’s update.
Just Eat downgraded its annual growth expectations on falling orders in the first three months. Europe’s largest meal delivery platform may also sell Grubhub, the US-based company it bought only last year for US$7.3bn.
Netflix reported subscribers fell by 200,000 in its latest quarter. It is the first decline since 2011 with the blame put on higher prices in the UK and US and pulling out of Russia. The streaming company will crackdown on account sharing to offset further subscriber losses.
The UK will change from the fastest growing economy of the G7 countries to the slowest next year as Russia’s invasion “severely setback” global recovery. The International Monetary Fund said price pressures, particularly for food and fuel, will reduce spending.
Seeing Machines signed its second intellectual property licensing agreement in the automotive semiconductor sector for its Occula neural processing unit. Occula is at the core of the company’s driver monitoring technology that has now been distilled down to a single, very efficient chip.
FS-PLC/]Cornerstone FS which provides currency management platforms to businesses has reported its “highest ever unaudited quarterly revenue” with the board “confident” of more growth. A first contributions from Capital Currencies, a currency exchange service it acquired in the quarter helped the numbers.
Eckoh renewed its payment collection contract with outsourcing specialist Capita in a deal worth a minimum of £2.1mln over five years. Since 2018 the customer engagement and security group has handled calls and automated secure payments via Capita’s contact centre.