FTSE 100 on the slide again as US inflation numbers continue to spook investors

FTSE 100 was on the slide again as yesterday’s US inflation numbers continue to spook investors. London’s blue-chip index was down 71 at 7,084.

Barratt Developments shares sank despite a positive trading update from the housebuilder, with profit before tax expected to be slightly ahead of market expectations at roughly £1.05bn. Legacy property costs associated with building safety remediation has resulted in a cost of £412mln, it said.

UK house prices are continuing to rise, but the market may be cooling, according to the Royal Institution of Chartered Surveyors. In its latest residential survey, the balance of surveyors reporting a price rise and those seeing a fall came in at +65%, down from +72 in May.

Uber is being sued by over 550 women in America on claims of sexual assault by drivers. Women passengers of the ride hailing app allege they were raped, kidnapped, sexually battered and falsely imprisoned.

88 Energy told investors it had A$10.5mln of cash at the end of the quarter to 30 June, as management and investors eye nearby third-party well drilling. The explorer anticipates completion of a new independent estimate of resources for Icewine in Alaska “early” in its third quarter.

Roby Zomer, MGC’s MD , hailed as a “real breakthrough” results from a clinical study that revealed its clinically-tested food supplement was able to reduce severe symptoms of long Covid. The data read-out showed ArtemiC Support had a statistically significant impact on shortness of breath, cough, lack of energy, headache and mental confusion.

IQGeo said it expects to report “strong” results for the first half of 2022, in line with expectations. Revenue will be in excess of £8.9mln for the six months to 30 June 2022, a rise of 39% on the same period last year.

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