London's FTSE 100 is rising again, shrugging off the heavy falls in US markets overnight as investors panicked on Chinese start-up Deepseek’s AI launch.
For once the Footsie is being helped by its lack of tech companies as overnight Nvidia tumbled US$600bn or 17% and Tesla by 16% with Nasdaq off by more than 3%.
Early Tuesday, the Footsie is up 24 points at 8,528 led by Marks & Spencer, Tesco and Unilever.
UK shop prices continued to ease in January but could begin to grow again in the coming months as retailers grapple with growing Budget-related costs.
According to the BRC-NielsenIQ index, shop prices declined by 0.7% this month, against a 1.0% drop in December as non-food deflation continued.
Pets at Home revenue flatlined in its third quarter as demand came under pressure in a “more challenging” consumer backdrop. Guidance for “modest growth” in underlying pre-tax profit for the full year was maintained by the retailer.
Rentokil was a good riser as the pest controller reported its North American integration continued “to plan” with organic revenue up 3.0% over the latest quarter.
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