FTSE 100 suffered a grim open due to global worries about stagflation and local concerns over gas prices. London’s leading index slumped 85 points to 6,877 in early trading.
The UK government is mulling over emergency state-backed loans to energy companies as they struggle to survive with gas prices rocketing. Small suppliers are no longer able to deliver on their price promises to customers.
Talking about energy, SSE PLC (LSE:SSE) stressed it won’t spin off its renewables arm after media speculation. Papers have been predicting a separation after activist hedge fund Elliott Management built up a stake.
Former FTSE 250 constituent Vectura has been barred from pharmaceutical industry conferences after cigarette maker Philip Morris bought it. The takeover was controversial because Vectura makes treatment for respiratory diseases.
Keywords Studios PLC has announced the appointment of Bertrand Bodson as the gaming services company’s new chief executive officer. Bodson joins from Novartis where he is chief digital officer and is a member of the executive committee.
Yooma Wellness Inc has struck a deal to acquire Big Swig, a US-based maker of sparkling water beverages. Yooma said the acquisition will increase its presence in retailers throughout the southern United States and add the Big Swig sparkling water and Hard Swig 'hard seltzer' brands to its portfolio.
Oncimmune has signed an autoantibody profiling agreement with a global pharmaceutical company to evaluate the autoantibody profiles of patient samples in various autoimmune diseases. The initial phase, including the reporting of profiled data, is scheduled to complete by the end of 2021.