The FTSE 100 headed lower into the weekend on a downbeat statement from NatWest and some mixed tech earnings overnight in the US. London’s blue-chip index was down 18 at 7,232.
NatWest Group has set aside £294mln to cover its potential fine after being found guilty of neglect in a landmark criminal court money laundering case against the bank. Before the provision and bad debt writebacks, operating profits also fell 13%.
Facebook has become Meta as part of a major rebrand seemingly to distance itself from its growing controversies. The name only applies to the parent company, rather like Alphabet and Google, but better "encompasses" what it does, said the social media giant.
Amazon and Apple meanwhile have warned that Christmas will be a pinch point for supply and staff shortages. Amazon said it was doing what it could to minimise the impact, including spending billions on to ease the problem, while Apple estimated chip shortages had cost it US$6bn.
Today is World Psoriasis Day and SkinBioTherapeutics PLC (AIM:SBTX) (AIM:SBTX) has launched a probiotic food supplement to help patients manage the symptoms of this skin condition. It will be available in the UK and the US.
Zephyr Energy Plc said the US Bureau of Land Management approved the formation of a new 25,000-acre Federal Unit in its flagship Paradox Basin project in Utah, to be operated by the company. The unit, to be named the White Sands Federal Unit (WSU), spans all of the company’s existing leases covered by its historic 3D seismic survey.
Bradda Head Lithium Ltd (AIM:BHL) (AIM:BHL) received positive initial results from a geophysical programme at the company's Burro Creek and Wikieup projects in Arizona.
