Good morning from London, where the FTSE 100 opened lower this morning despite a generally positive night in the Asian markets.
Traders here are mindful of a fresh US inflation reading expected this afternoon UK time, that will provide more clues about the future of the battle against inflation.
Here in the UK we’ve already had some fresh inflation data from the ONS, that came in below expectations at 4.2%, unchanged on the quarter. The update also revealed that wage growth is starting to cool off.
Looking at the FTSE itself now and the biggest fallers so far this morning are gambling group Entain, packaging firm Smith DS and Rolls Royce. Nothing but good news from the British engineering giant over the last day so it will be interesting to see if any reason for this morning’s early fall is revealed later on today.
At the other end of the table, its mostly the miners doing well this morning but also publishers Informa.
Elsewhere Vodafone’s interims have just been released, and CEO Margherita Della Valle says the transformation of the Telecoms giant is progressing, with cost-cuts starting to have the desired impact.
And finally Among the small caps, Ondo Insurtech surged 23% as its Leakbot smart water leak detector has been taken up by US home insurer Nationwide.
That’s all for this morning, but stay tuned to Proactive for all the latest news.
