The FTSE 100 has fallen back from yesterday’s four and a half year highs, but remains above the 7,700 point mark. Bank of England chief, Huw Pill said yesterday that the UK is in a “distinct” position as it faces multiple challenges that are driving up inflation and warned higher prices could be persistent.
Investor eyes are now turning to the US where US Federal Reserve chair Jerome Powell will be speaking later today, and there’ll also be an update from the World Bank later today as well.
Over in the US, shares of Virgin Orbit have taken a battering overnight after the failure of its mission to carry a satellite into space from the UK’s first ever spaceport in Cornwall.
Elsewhere Warhammer producer Games Workshop reported its profits had fallen for the quarter, despite rising revenues.
And among the small caps, shares in online electrical retailer AO World jumped this morning after it raised its full-year profit guidance, with earnings before tax now expected to be between £30-40mln.
This morning’s report was written by Josh Lamb and presented by me Thomas Warner, have a great day and don’t forget your umbrella.
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