FTSE 100 opened in the red as UK investors focused on local supply chain and gas shortage issues and the seemingly worsening Evergrande situation. London’s leading index shed 16 points to 7,061 in early deals.
Consumer confidence slumped in September according to the latest survey from GfK. The market researcher said reduced confidence in the general economic situation and personal finances led to a five points drop in people’s optimism.
The UK is considering whether it can extend seasonal visas for agriculture workers to other parts of the food industry to cope with staff shortages. The country is grappling with a huge shortage of staff across several industries
Meanwhile, UK restaurants and cafes will no longer allowed to keep tips left for staff by customers. The malpractice has been reported in large chains such as Pizza Express, Cote Brasserie and Bill's.
Among the small caps, Symphony Environmental announced that Vincel Investment had bought 2.5mln new shares at a premium. The plastics group raised £750,000 at a price 13% more than Thursday’s close.
Touchstone Exploration’s latest drill results from the Royston-1 exploration well on the Ortoire block onshore Trinidad significantly exceeded expectations. The team discovered 393 gross feet of hydrocarbon pay in the Herrera formation – almost double pre-drill estimates.
Iofina’s revenue and profit reached records and debt fell in the first half of the year despite production outages caused by extreme weather and reduced brine supply. Iofina expects demand for iodine and its end-use products to improve as customer markets continue to recover.