Good morning from London where the FTSE 100 is recovering from a bit of a slump yesterday afternoon – the market on Monday was responding to rumours from the US of more interest rate hikes to come.
Here in the UK though food prices fell month on month for the first time in two years in September, and overall retail price inflation of 6.2% was the slowest rise so far this year, according to the British Retail Consortium.
High street bakery chain Greggs’ shares have fallen this morning with investors seemingly unimpressed with solid growth and a reiteration of its full-year guidance, as well as news of a new link-up with Uber Eats.
Even harder hit on Tuesday morning was clothing retailer Boohoo, which is reporting a £9.1 million pre-tax loss at the half-year stage, compared to a profit last time around.
AstraZeneca’s off to a more positive start after announcing a US$425 million settlement of US legal claims relating to alleged side effects for its heartburn drugs Nexium and Prilosec.
And finally with the small caps, toymaker Character Group opened higher after hinting that a stronger second-half performance would translate to profitability for the full year.
