FTSE 100 hits six-month highs – Market Report

The FTSE 100 has started 2023 on the front foot, following Asia and Europe higher in early trading to reach six-month highs of 7,600 points.

This is despite a report by economists in the Financial Times which stated that the UK is predicted to experience one of the worst recessions among the G7 countries in 2023.

In company news, festive favourite Hotel Chocolat is having another crack at the Japanese market, signing a new strategic partnership agreement with Tokyo-based Eat Creator Corporation.

Over in the US, Elon Musk’s space exploration company SpaceX is said to be raising US$750mln in a new round of funding. That would value the rocket and satellite company at US$137bn.

And among the small caps, Challenger Energy says almost all exploration acreage offshore Uruguay has been sewn up, which is a boon to its early mover advantage in the area.

This report was written by Jai Singh and presented by me, Thomas Warner.

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