FTSE 100 edged lower in early trading on downbeat economic news with few company announcements of note to shift the torpor. The blue-chip index shed 12 at 7,285 with a definite holiday wind-down feel also apparent.
Britain’s economy grew by a less than expected 1.1% in the third quarter, even before the effects of the spread of the omicron variant. Worryingly, given recent news, hospitality, entertainment and recreation were the largest contributors to the rise.
Taylor Wimpey has agreed to remove terms from leaseholders' contracts that caused ground rents to double every 10 years. The housebuilder agreed voluntarily to remove the clauses after consultations with the UK competition watchdog.
Arsenal have had two adverts for crypto ‘fan tokens’ banned by the UK‘s advertising regulator. The Premier League club was “taking advantage of consumers’ inexperience or credulity,” said the ASA.
Among the small caps, Mila Resources shares rocketed higher on first results from its initial 11-hole drill programme at Kathleen Valley in Australia. The company’s geologist described the assays as some of the best he had seen in thirty years of mining.
Alien Metals is to acquire Artemis Resource’s 70% joint venture interest in the Munni Munni project in Pilbara, Western Australia. On completion, Alien will own 100% of the project.
Avacta notched up a healthy rise after its lateral flow test received a CE mark for self-testing in the UK and EU. The company, which specialises in cancer therapies and diagnostics, has developed the Covid test in partnership with Medusa Healthcare.
