Good morning from London where the FTSE 100 fell at today’s open before rebounding, and getting back to those four-month high levels from Friday.
The big story so far morning here in the UK comes from the housing market, and its news that asking prices are being cut at the highest proportional rate in over a decade. Over one-third of homes currently on sale have been discounted at least once, according to property website Rightmove PLC (LSE:RMV), the highest proportion since 2011. The cost of living crisis is also extending into hospitality of course, and some fresh government data out this morning shows pubs disappeared at a rate of two a day during the first half of the year.
Turning to equities now and Mike Ashley’s Frasers Group PLC (LSE:FRAS) opened the day in the green on news it was in talks to sell its Missguided clothing brand to online retailer SHEIN.
Advertising firm S4 Capital PLC (LSE:SFOR) shares have slumped as it lowered revenue and margin expectations for the second time in as many months.
And finally its a good morning over at Touchstone Exploration Inc (AIM:TXP, TSX:TXP, OTC:PBEGF) after it announced its hit its targeted production rate at the Cascadura project after just one week of operations.
That’s all for this morning, check back to Proactive later for my interview with Bloomsbury Publishing all about the launch of Impossible Creatures by Katherine Rundell. Have a great week.
