The FTSE 100 fell sharply at the open before staging a slight recovery.
Shares in Premier Inn and Harvester owner Whitbread are the biggest gainers today, supported by news that its profits have actually surpassed pre-Covid levels.
Associated British Foods moved in the other direction however, with the Primark owner blaming inflation for gobbling up its margins.
Some fresh insight from market researchers Kantar this morning, who are saying that grocery price inflation dipped during the four weeks to April 16th, falling from 17.5% to 17.3%. The firm won’t be drawn on whether food inflation has truly peaked though.
In regulatory news, Big tech firms would face tougher rules in the UK under new legislation proposed today that would allow the Competition and Markets Authority to fine the likes of Google, Amazon and Meta up to 10% of annual turnover.
And in small caps, shares in Technology Minerals rose 10% as it gained operational approval for its West Midlands battery recycling plant.
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