FTSE 100

Losses are deepening for the FTSE 100 and FTSE 250, with oil and other commodities-focused shares weighing. The blue-chip index is down 139 points or 1.8% to ...

“This caused investors to question whether the Federal Reserve was being less than honest about what is coming down the track. At the same time, many large businesses are actually well-placed to invest, having paid down bank debt during the pandemic and built cash holdings which could can be used to fund new projects.” So, as yields on government debt continue to press higher, investors are forced to get out of assets that pay low or – in the case of gold – no interest or dividend,” he explained. The temporary super-deduction tax incentive should support an investment pick-up this year, but its impact is being countered by strong headwinds. Despite the sharp continuation of sell-off in equity markets, there were no signs of any serious haven demand buying of the precious metal by mid-morning London session,” reported Fawad Razaqzada at City Index. The FTSE 250 is doing even worse, down 384 points or 1.9% to 19,435.97, testing lows seen in early March, with Ukraine-based Ferrexpo PLC (LSE:FXPO) PLC leading the fallers. Tech stocks are expected to lead the decline, with futures for the Nasdaq-100 down 2.0%, while the S&P 500 is seen opening 1.7% lower and the Dow Jones down 1.3% in pre-market trading. The precious metal has started the new week how it ended the last three: on the back foot. Business investment is forecast to grow 10% in 2022, down from the 12.7% growth expected in February, while consumer spending is set to grow 4.9%, down from the 5.6% predicted before. The blue-chip index is down 139 points or 1.8% to 7,249, while the mid-cap index is down 456 points or 2.3% at just over 19,360. Unlike government bonds and stocks, it doesn’t give interest or dividends and costs money to store. The FTSE 100 is down 143 points (1.9%) and the FTSE 250 is faring even worse, plunging 452 points (2.3%) to 19,368.

A concoction of intensifying geo-political risks, lockdowns in China and worries about the impact of the US Federal Reserve pushing through a rapid.

The Fed is widely anticipated to lift borrowing costs 50 basis points again at its next meeting, following from its steeper hike last week as it chases down the worst inflation rate in the US since the 1980s. Bond yields climbed sharply driven by investors baking in more 50 basis point rate hikes from the Fed in the coming months. Investors were skittish during the first session of the week as a combination of negative risks hit sentiment to stocks.

BP's latest plan to buy back $2.5bn of stock this quarter has pushed forecasts for FTSE 100 firm buybacks to be on track for a record high in 2022.

For example, 2020 saw more than £10.3bn in scrapped plans for buybacks when the pandemic began. BP is now also solidly third place on total buybacks since 2000, having issued £35.6bn total. Mould explained: "This buyback largesse complements analysts' forecasts for aggregate dividend payments from the FTSE 100 of £81.2bn (and that is before any special dividends). The dividends equate to a forward dividend yield of 3.9% and the buybacks add a further 1.8% to that, to take the cash yield from the FTSE to 5.7%."

The debate over BP's bumper profits and the rights and wrongs of a windfall tax looks set to continue but the facts of the matter are that the oil major's ...

“That may provide some succour to patient investors who are looking at a broadly flat capital return from the FTSE 100 in the year to date. Buyback activity reached its high in 2006-07, as animal spirits were running most strongly just before the Great Financial Crisis swept the world. It also cements the oil and gas giant’s third-placed ranking for buybacks since 2000.

Stocks are back under pressure after figures from China's economy highlighted the impact of ongoing zero-Covid lockdown policies.

Singapore-based Trafigura will supply all of the unprocessed lithium “feedstock” to the planned UK refinery, which will then turn it into battery-grade metal. The company’s share price has dropped 60% since January amid reports customers are holding back on furniture purchases because of rising inflation. “In Europe, equities are sharply lower, following the Nasdaq experiencing its sharpest one-day fall since June 2020. That slump means bitcoin is down 50% from the all-time high reached last November above $65,000. In Europe, the DAX at its weakest since the middle of March, and the French CAC index fell more than 114 points to 6,143.72. The bluechip index is currently down 135 points, or 1.8%, at 7252. In the markets this lunchtime, the FTSE 100 is down 123 points at 7,264.82 as global uncertainty continues to weigh on the markets. Third Point first invested in the energy giant last autumn and publicly called for a break-up of the company between its oil and gas business and its newer clean and green energy arm. Third Point Investors, a hedge fund run by billionaire Dan Loeb, said in a quarterly investor update that it had “continued to add to our position in Shell” in the first few months of 2022 and held “constructive” talks with the company. “We’ve seen renewed selling in bitcoin and the wider digital token market as the prospect of increasing interest rates and a deteriorating economic environment continues to weigh on risk assets,” analysts at trading platform Bitfinex write. The sell-off has coincided with a broader collapse in tech stocks in recent months as rates rise, energy costs soar and economic forecasts around the world are slashed in the wake of the war in Ukraine. The Dow Jones opened 214 points lower on Monday at 32,685.17, and has continued to slip in the first few minutes of trading.

Miners were under the cosh as metals prices fell after the release of disappointing Chinese trade data. Antofagasta, Anglo, Glencore and Rio Tinto all lost ...

"Whoever comes in next could face a tricky backdrop, with the property market looking increasingly challenged. FTSE 100 - Fallers FTSE 100 - Risers FTSE 100 movers: Miners under the cosh after China data; retailers rally London’s FTSE 100 was 1.5% lower in afternoon trade on Monday at 7,274.58.

The optimism that followed the US Federal Reserve meeting last Wednesday feels a long way off on Monday morning as the FTSE 100 dropped to its lowest levels ...

“That said, much of its growth in recent years, bar the period when the housing sector went into a Covid-dictated deep freeze, has been driven by charging agents higher subscription fees. “He has been with the company since 2006, took charge in May 2017 and has led the company successfully through the disruption caused by the pandemic and the competitive threat posed by challengers like OnTheMarket and Zoopla. “The market reaction to the departure of Rightmove chief executive Peter Brooks-Johnson demonstrated the esteem in which he has been held by investors as the shares fell on the news.

A bruising session on global stock markets left London's investors with a headache on Monday as a drop was led by gambling companies and miners.

It will also take over the running of McColl’s two pension schemes. Start your Independent Premium subscription today. But after markets closed on Monday McColl’s, whose shares are suspended, found a buyer in its former rival. The biggest fallers on the FTSE 100 were Entain, down 123p to 1,248.5p, Scottish Mortgage Investment Trust, down 55p to 777p, Antofagasta, down 95p to 1,362p, Glencore, down 29p to 458.55p, and Flutter Entertainment, down 504p to 7,996p. The biggest risers on the FTSE 100 were Sainsbury’s, up 5.1p to 233p, Kingfisher, up 5p to 242p, Tesco, up 4.1p to 275.5p, CocaCola HBC, up 19p to 1,567p, and Unilever, up 39p to 336.6p. The FTSE 100 ended the day down 2.3%, a fall of 171.36 points to 7,216.58, after a rough session of trading as US and European shares traded down partly in anticipation of new inflation figures from several countries.

The Dow Jones industrial average was 475 points (1.4%) lower at 32,424 while the S&P 500 tumbled 66 points (1.6%) to 4,056. The Nasdaq Composite dived 188 ...

“This caused investors to question whether the Federal Reserve was being less than honest about what is coming down the track. So, as yields on government debt continue to press higher, investors are forced to get out of assets that pay low or – in the case of gold – no interest or dividend,” he explained. At the same time, many large businesses are actually well-placed to invest, having paid down bank debt during the pandemic and built cash holdings which could can be used to fund new projects.” The temporary super-deduction tax incentive should support an investment pick-up this year, but its impact is being countered by strong headwinds. Despite the sharp continuation of sell-off in equity markets, there were no signs of any serious haven demand buying of the precious metal by mid-morning London session,” reported Fawad Razaqzada at City Index. The Nasdaq Composite dived 188 points (1.6%) to 11,957. With a fresh set of tasty inflation numbers due out from a whole host of countries this week, including the US, investors are still very much in the sell camp. Hewson added: “There are always winners and today’s shout out must go to Tyson Foods (NYSE:TSN) which has raised its sales outlook because of soaring meat prices. Two percent inflation seems a ridiculously alien concept right now and investors are nervous that chasing down that target could require faster and deeper action by central banks, action which could well knock growth prospects even farther off course.” The precious metal has started the new week how it ended the last three: on the back foot. Talk of recession is rife as markets really begin to price in a series of interest rate rises as central banks remain under pressure to help people out of the cost-of-living crisis they’ve found themselves slap bang in the middle of.” The FTSE 100 is down 143 points (1.9%) and the FTSE 250 is faring even worse, plunging 452 points (2.3%) to 19,368.

That would be the biggest contraction since 1994, when Russia's Soviet-era economy lurched towards capitalism under its first president Boris Yeltsin. It would ...

He told the Financial Times: “I would be very much in favour because it is full of logic. He was previously a management consultant with Accenture and the Berkeley Partnership. This far-reaching package of sanctions will inflict further damage on the Russian war machine. Rightmove was the largest faller, sliding more than 4pc after it announced the departure of its chief executive. The UK's largest property website said Mr Brooks-Johnson will remain in the role until its full-year figures are published in February 2023. But a change of course is needed now, if the government does not act immediately then rising costs will put our economic recovery in a stranglehold that will have repercussions for years to come.” It's hoping to produce about 1.8m tonnes of hydrogen a year while plotting exports as soon as 2027. The business group said the Chancellor should also cut the VAT on firms’ energy bills from 20pc to 5pc for at least a year. Expect exchange on the Digital Services Act and how 'new' Twitter will play by European rules. She told the European Parliament: "I have always argued that unanimity voting in some key areas simply no longer makes sense if we want to be able to move faster. Against the euro, it slipped 0.1pc to 85.53p. Shevaun Haviland, BCC director general, said: “The costs crises facing firms and people in the street are two sides of the same coin.

Brooks-Johnson will be leaving the property firm after 16 years, however Rightmove has confirmed that he will stay on until his replacement has been found and a ...

“That may provide some succour to patient investors who are looking at a broadly flat capital return from the FTSE 100 in the year to date. I’d also like to thank our customers for their support and loyalty over the past 16 years.” Commodities groups dropped into the red, including Glencore with a 5% fall to 463.2p, Croda with a 4.8% drop to 66.9p, Anglo American declining 6.7% to 3,324p and Antofagasta sliding 4.8% to 1,387p as a result of Chinese lockdowns spurring fears of declining consumption and a dip in commodities prices. The FTSE 100 is set to see a collective £37 million in buybacks in 2022, surpassing the previous record of £34.9 billion in 2018. Russia’s military display in Moscow to celebrate the Soviet victory against Germany in the second world war also served to shake up investor confidence, with the event providing a stark reminder of the ongoing geopolitical conflict in Ukraine. The FTSE 100 languished in the red on Monday as the index dropped 1.9% to 7,240.5, its lowest point since mid-March in light of Beijing’s continued lockdown and market concerns about the Federal Reserve’s next moves on interest rates.

US stocks extend sharp declines led by Nasdaq Composite; April Inflation data due for US this week. 4.50pm: Footsie exits 7,300 level. The FTSE 100 index ended ...

“This caused investors to question whether the Federal Reserve was being less than honest about what is coming down the track. So, as yields on government debt continue to press higher, investors are forced to get out of assets that pay low or – in the case of gold – no interest or dividend,” he explained. At the same time, many large businesses are actually well-placed to invest, having paid down bank debt during the pandemic and built cash holdings which could can be used to fund new projects.” The temporary super-deduction tax incentive should support an investment pick-up this year, but its impact is being countered by strong headwinds. Despite the sharp continuation of sell-off in equity markets, there were no signs of any serious haven demand buying of the precious metal by mid-morning London session,” reported Fawad Razaqzada at City Index. The Nasdaq Composite dived 188 points (1.6%) to 11,957. With a fresh set of tasty inflation numbers due out from a whole host of countries this week, including the US, investors are still very much in the sell camp. Hewson added: “There are always winners and today’s shout out must go to Tyson Foods (NYSE:TSN) which has raised its sales outlook because of soaring meat prices. Two percent inflation seems a ridiculously alien concept right now and investors are nervous that chasing down that target could require faster and deeper action by central banks, action which could well knock growth prospects even farther off course.” The precious metal has started the new week how it ended the last three: on the back foot. Talk of recession is rife as markets really begin to price in a series of interest rate rises as central banks remain under pressure to help people out of the cost-of-living crisis they’ve found themselves slap bang in the middle of.” The FTSE 100 is down 143 points (1.9%) and the FTSE 250 is faring even worse, plunging 452 points (2.3%) to 19,368.

US stocks extend sharp declines led by Nasdaq Composite; April Inflation data due for US this week. 4.50pm: Footsie exits 7,300 level. The FTSE 100 index ended ...

“This caused investors to question whether the Federal Reserve was being less than honest about what is coming down the track. So, as yields on government debt continue to press higher, investors are forced to get out of assets that pay low or – in the case of gold – no interest or dividend,” he explained. At the same time, many large businesses are actually well-placed to invest, having paid down bank debt during the pandemic and built cash holdings which could can be used to fund new projects.” The temporary super-deduction tax incentive should support an investment pick-up this year, but its impact is being countered by strong headwinds. Despite the sharp continuation of sell-off in equity markets, there were no signs of any serious haven demand buying of the precious metal by mid-morning London session,” reported Fawad Razaqzada at City Index. The Nasdaq Composite dived 188 points (1.6%) to 11,957. With a fresh set of tasty inflation numbers due out from a whole host of countries this week, including the US, investors are still very much in the sell camp. Hewson added: “There are always winners and today’s shout out must go to Tyson Foods (NYSE:TSN) which has raised its sales outlook because of soaring meat prices. Two percent inflation seems a ridiculously alien concept right now and investors are nervous that chasing down that target could require faster and deeper action by central banks, action which could well knock growth prospects even farther off course.” The precious metal has started the new week how it ended the last three: on the back foot. Talk of recession is rife as markets really begin to price in a series of interest rate rises as central banks remain under pressure to help people out of the cost-of-living crisis they’ve found themselves slap bang in the middle of.” The FTSE 100 is down 143 points (1.9%) and the FTSE 250 is faring even worse, plunging 452 points (2.3%) to 19,368.

Stocks across the UK and Europe ended Monday deep in the red, following news from China that its Covid curbs have caused the country's exports to plummet to ...

The dollar was higher across the board. In the six months to November 30, the company’s first half, revenue amounted to £150.1 million. Brooks-Johnson has been with the company for 16 years, being appointed as chief operating officer in 2013 then CEO in 2017, but said he is leaving to ‘seek a new challenge’. ‘The continuing impact of Beijing’s zero-Covid policy in China and concerns about the Fed’s next moves are helping to pile the pressure on markets. London’s big listed miners were feeling the heat from the disappointing China data. It will also be a demonstrable improvement on its first half fortunes, NCC added. Brent oil was quoted at $107.50 a barrel at the equities close, down sharply from $112.74 at the close Friday. The pound was quoted at $1.2320 at the London equities close, down from $1.2355 at the close Friday. The euro stood at $1.0535 at the European equities close, down from $1.0576 late Friday. Against the yen, the dollar was trading at JP¥130.45, up from JP¥130.34. The DJIA was down 1.5%, the S&P 500 index down 2.2% and the Nasdaq Composite down 3.0%. The Cboe UK 100 ended down 2.5% at 719.80, the Cboe UK 250 closed down 2.6% at 17,059.96, and the Cboe Small Companies ended down 1.9% at 14,555.88. The FTSE 100 index closed down 171.36 points, or 2.3%, at 7,216.58. The FTSE 250 ended down 512.95 points, or 2.6%, at 19,306.72, and the AIM All-Share closed down 31.41 points, or 3.2%, at 946.01.

S. hare buybacks announced by companies on the London market have already surpassed the all-time record set in 2018 with more than half the year left to go.

BP announced a new £2 billion buyback last week, pushing this year’s total above the all-time high. But Mould also warned that buyback plans can be revised. FTSE 100 firms are now planning £37 billion of share buybacks in 2022, surpassing the previous peak of £34.9 billion in 2018, according to AJ Bell.

Overnight, tech and other growth stocks, as collected on the Nasdaq and the Russell 2000 indices, fell over 4% to levels last seen in late 2020. The S&P 500 ...

Hence, the existing sell-off could be an opportunity for traders and investors.” “The US equity indices hit their lowest level in thirteen months yesterday. Maxcyte raised guidance after a strong start to the year that saw the cell engineering specialist’s revenues increase by 78% in the first quarter. Wizz Air has signed a contract with Saudi Arabia to "explore airline market development opportunities" in the kingdom. However this morning it looks like there could be some relief for the markets, suggesting yesterday’s sell-off was somewhat overdone," said Victoria Scholar, head of investment at Interactive Investor. The British Gas owner said it had delivered a strong operational performance in the first four months of 2022. London’s blue-chip share index is heading for a 17-point gain, according to the IG spread-betting platform, after falling 2.3% at the start of the week to 7,216.6. "The fact that inflation is marching higher, the cheap money era is ending, China is facing an economic slowdown and the war in Ukraine endures are all coming together to provide a daunting reality check that has contributed to the more than 100% surge in the VIX volatility index since the January low.” Some US focused stocks are in the red, including Baillie Gifford US Growth Trust, after the 4% sell-off on the Nasdaq to a 19-month low, with tech stocks hit particularly hard, including Tesla shedding more than 9% and Uber declining 11.5%. The UK used car market vroomed higher in the first quarter, with record sales of battery electric vehicles, but growth has started to slow. It expects top-line growth of at least 25% from the core business, while milestone income from licensing agreements is set to be in the order of US$4mln. Sales of used pure electric cars reached record numbers in the first three months of the year in the UK. The market share for EVs remains modest at just 3.6%.

“Yesterday was carnage, but was it capitulation? Stock markets in Europe and US futures are attempting to rally this morning but we still question whether the ...

Maxcyte raised guidance after a strong start to the year that saw the cell engineering specialist’s revenues increase by 78% in the first quarter. Hence, the existing sell-off could be an opportunity for traders and investors.” Stock markets in Europe and US futures are attempting to rally this morning but we still question whether the bottom is in...likely to be a short-covering rally for now as I feel we are not at max fear levels yet,” suggested Neil Wilson at Markets.com. Wizz Air has signed a contract with Saudi Arabia to "explore airline market development opportunities" in the kingdom. The British Gas owner said it had delivered a strong operational performance in the first four months of 2022. “The US equity indices hit their lowest level in thirteen months yesterday. However this morning it looks like there could be some relief for the markets, suggesting yesterday’s sell-off was somewhat overdone," said Victoria Scholar, head of investment at Interactive Investor. London’s blue-chip share index is heading for a 17-point gain, according to the IG spread-betting platform, after falling 2.3% at the start of the week to 7,216.6. It expects top-line growth of at least 25% from the core business, while milestone income from licensing agreements is set to be in the order of US$4mln. “The longer we see high inflation and real household incomes falling, the more likely it is that consumers will change their spending behaviour, prompting a decline in the health of the retail sector and possibly more casualties on the high street.” Legislation to strengthen the financial services industry will also be supported, as well as establishing the UK Infrastructure Bank in legislation to help economic growth and deliver on net zero targets. The eventual heir to the throne said the Queen’s government’s priority is to strengthen and grow the economy while easing the cost of living burden on families.

London's blue-chip share index opens higher despite 'dark economic outlook'. oil barrels. Oil saw a big decline yesterday. FTSE 100 adds 50 points ...

Maxcyte raised guidance after a strong start to the year that saw the cell engineering specialist’s revenues increase by 78% in the first quarter. Hence, the existing sell-off could be an opportunity for traders and investors.” Stock markets in Europe and US futures are attempting to rally this morning but we still question whether the bottom is in...likely to be a short-covering rally for now as I feel we are not at max fear levels yet,” suggested Neil Wilson at Markets.com. Wizz Air has signed a contract with Saudi Arabia to "explore airline market development opportunities" in the kingdom. The British Gas owner said it had delivered a strong operational performance in the first four months of 2022. “The US equity indices hit their lowest level in thirteen months yesterday. However this morning it looks like there could be some relief for the markets, suggesting yesterday’s sell-off was somewhat overdone," said Victoria Scholar, head of investment at Interactive Investor. London’s blue-chip share index is heading for a 17-point gain, according to the IG spread-betting platform, after falling 2.3% at the start of the week to 7,216.6. It expects top-line growth of at least 25% from the core business, while milestone income from licensing agreements is set to be in the order of US$4mln. “The longer we see high inflation and real household incomes falling, the more likely it is that consumers will change their spending behaviour, prompting a decline in the health of the retail sector and possibly more casualties on the high street.” Legislation to strengthen the financial services industry will also be supported, as well as establishing the UK Infrastructure Bank in legislation to help economic growth and deliver on net zero targets. The eventual heir to the throne said the Queen’s government’s priority is to strengthen and grow the economy while easing the cost of living burden on families.

Russia was behind a massive cyber attack against a satellite internet network that took thousands of modems offline at the start of the Ukraine war, the UK ...

It could also offer more money to eastern European countries to compensate for the measure. Tim Wallace has the details: Centrica said it's been boosted by strong volumes across its nuclear and gas production operations. It would push countries to use EU funding and launch support programmes for rooftop panels, and install solar energy in all suitable public buildings by 2025. The reforms mean it could become a more permanent part of the market. It comes after British Gas owner Centrica said its profits will hit the top end of its previous forecasts. Supply issues and shortages are also dented its key manufacturing sector. Both figures are behind initial targets of 14.8m and 22.6m units respectively. An index of current conditions worsened. It said in a statement: "Given the significant defence, humanitarian and social needs, the support of the budget by the National Bank remains a necessary measure in the context of the war unleashed by Russia." Solar's share in heat production was even lower, at 1.5pc. The Tokyo-based firm sold 11.5m units of the console in the year to March and said it was aiming to sell roughly 18m in the year ahead.

UK's FTSE 100 rose on Tuesday, boosted by consumer staples and banking stocks, a day after worries around growing recession risks, higher interest rates, ...

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(RTTNews) - U.K. stocks rose on Tuesday, with banks and consumer staple stocks leading the surge in cautious trade.

At the same time, like-for-like sales decreased 1.7 percent annually. Explore Explore Markets

Outpost24 used its threat monitoring tool Blueliv to trawl cybercrime sites for the breached credentials, finding 31,135 usernames and passwords belonging to ...

“Stolen credentials are dangerous because there is very little that can be done to identify and detect once an intruder is inside your system. On average, healthcare companies had the highest number of stolen credentials per company (485) obtained via a data breach, while the IT/telecom sector had both the highest overall number of exposed credentials (7303) and highest average number of stolen credentials per company (730). The majority (60%) of stolen credentials came from three of the highest regulated industries – IT/telecom (23%), energy and utility (22%) and finance (21%), Outpost24 said.

Outpost24 has published its 2022 FTSE 100 Credential Theft Study outlining breached credentials that end up on dark web.

“Stolen credentials are dangerous because there is very little that can be done to identify and detect once an intruder is inside your system. - IT/Telecom is the most at risk. In fact, 75% of these credentials were stolen through data breaches and 25% were unknowingly obtained via a malware infection.

BP's latest plan to buy back $2.5bn of stock this quarter has pushed forecasts for FTSE 100 firm buybacks to be on track for a record high in 2022.

For example, 2020 saw more than £10.3bn in scrapped plans for buybacks when the pandemic began. BP is now also solidly third place on total buybacks since 2000, having issued £35.6bn total. Mould explained: "This buyback largesse complements analysts' forecasts for aggregate dividend payments from the FTSE 100 of £81.2bn (and that is before any special dividends). The dividends equate to a forward dividend yield of 3.9% and the buybacks add a further 1.8% to that, to take the cash yield from the FTSE to 5.7%."

London shares are experiencing a steadier session after US mega-cap stocks were the target of more heavy selling last night.

JP Morgan yesterday blamed technical flows, fear and poor market liquidity for the recent wave of selling, rather than fundamental developments. Markets seem caught in a narrative, not objectively reacting to economic news.” However, shares for Meta, Alphabet and Tesla were all up in early trading, reversing some of the heavy losses felt yesterday. It blamed the forecast on “softer demand” and recent price reductions for its products. Tesla and Amazon slid 9% and 5% respectively as the S&P 500 closed below 4000 for its lowest level in more than a year. That’s the single biggest thing I think could be done.” In February, co-founder John Foley was ousted as chief executive officer after sales slowed and Peloton struggled to manage its production. As well as strong volumes from nuclear and gas production assets, Centrica has benefited from surging levels of trading activity as it looks to secure gas and renewable energy to improve the UK and Europe's security of supply. Total retail sales across the UK fell by 0.3% in April, according to the latest retail sales monitor from the British Retail Consortium and KPMG, compared to a three-month average growth of 3.2% and a 12-month average growth of 6.4%. European markets posted a steadier session today as the FTSE 100 index climbed 52.37 points to 7268.95 and the UK-focused FTSE 250 index lifted 168.95 points to 19,475.67. The price of oil has dropped as much as 2% in this morning’s trading as coronavirus lockdowns in China, a strong dollar and the risk of recession weighed on the price. In today’s session, shares in British Gas owner Centrica jumped 5% as it said full-year earnings are towards the top end of City forecasts due to a surge in trading acitivty and higher production volumes in gas and nuclear.

Centrica expects full-year adjusted earnings per share to be around the top of the range of forecasts. The British Gas owner said it had delivered a strong ...

Maxcyte raised guidance after a strong start to the year that saw the cell engineering specialist’s revenues increase by 78% in the first quarter. Wizz Air has signed a contract with Saudi Arabia to "explore airline market development opportunities" in the kingdom. The British Gas owner said it had delivered a strong operational performance in the first four months of 2022.

Global markets rebounded after a series of geopolitical and economic headwinds pushed stocks, oil and bitcoin lower.

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