FTSE 100 opened higher, climbing 26 points to 7,323 points. Scottish Mortgage is one of the index’s biggest risers, possibly boosted by the performance of the Nasdaq yesterday.
Inflation hit a fresh 40-year high in June, rising to 9.4%. According to the Consumer Prices Index, energy costs, food bills and petrol prices were largely responsible for the headline figure rising.
A strike at Royal Mail looms, as nearly 100% of members who voted backed the action. The Communication Workers is yet to give a date for the strikes and hopes the outcome of the ballot will put pressure on Royal Mail to reach a settlement.
Meta has been served with a lawsuit for allegedly stealing its name following its switch to the metaverse. MetaX LLC, a company that creates virtual reality experiences, filed the lawsuit in a Manhattan federal court on Tuesday.
Bloomsbury Publishing experienced “strong trading” at the start of its new financial year and is confident it can deliver continued success. Sales in the four months to June were up 27%.
Poolbeg Pharma described the green light for a human challenge study, which will assess the potential of its treatment for severe influenza, as a ‘major milestone.’