Market Report

The FTSE 100 opened lower, losing 13 points to 7,437. The index was hit by falls in oil majors and energy stocks on concerns that slowing global economic growth would hit demand for energy.

Inspired reported “strong trading” and an improvement in its underlying cash generation in the six months to 30 June. The energy efficiency company said growth in its energy optimisation services is robust as energy has become a “”high-priority”” issue for businesses.

Oracle Power said it raised £500,000 via a placing to support the advancement of its joint-venture green hydrogen project. It will enable the production of green hydrogen from an electrolyser facility and renewable power for business-to-business usage.

DeepVerge almost doubled its first-half revenues, although full-year income is expected to be below current market expectations. According to a statement, full-year sales are expected to be more than £18mln, which ‘is below current market expectations.’

WPP shares fell despite saying first-half profit and revenue rose on “”sustained demand”” for its advertising services, leading it to raise its guidance for the year, undeterred by the economic downturn.

House prices fell in July, the first-time mortgage lender Halifax reported a decrease in over a year. The annual rate of growth eased to 11.8%.

The London Stock Exchange will hand £750mln to shareholders over the next year through a share buyback scheme after posting a surge in pre-tax profits in the first half.

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