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UK supermarket chain Sainsbury’s said first-quarter underlying sales fell 4% as consumers started to cut back on discretionary spending amid the cost of living crisis.
European shares were higher at the open after a positive session in Asia overnight and suggestions that the US could ease tariffs on China.
Australia’s Reserve Bank increased its key cash interest rate for the third time in as many months and warned of more action as it looked to stymie rising inflation.
Asian shares were broadly higher after the US Independence Day holiday as Australia’s central bank raised interest rates for the third consecutive month and investors took heart from a possible easing of China-US trade tensions.
The FTSE 250 was down 0. 08% at 18,622. 60 at 1450.
A £15bn takeover deal to buy UK Power Networks, Britain’s largest electricity distributor, has reportedly collapsed after surging inflation sparked a last-minute price rise by its Hong Kong owner.
European shares opened higher on Monday driven by energy stocks, despite data showing German exports fell last month, , pushing the country’s trade balance into a surprise deficit.
European sharesc opened higher on Monday driven by energy stocks, with investors eyeing eurozone inflation data.
Low-cost carrier Wizz Air almost trebled passenger numbers last month as more people resumed travelling as Covid restrictions eased.
Asian shares were broadly higher on Monday with indices up in all major markets, bar Hong Kong which was slightly lower.
Supermarket Income REIT said it had bought four properties for a total of £83m.
The FTSE 250 was down 0. 33% at 18,604. 32 at 1420 BST.
The downbeat mood on European markets continued on Friday after suffering their worst quarter since the onset of the Covid-19 pandemic, as Eurozone inflation jumped to a fresh record high in June.
BT Sport has lost its exclusive rights to screen Champions League football in the UK and will now share a deal with online giant Amazon, which will broadcast one game a week from 2024.
Eurozone manufacturing production fell last month for the first time since August 2020 as the Covid pandemic took hold, with rising inflation putting the brakes on consumer spending, according to a survey published on Friday.
The downbeat mood on European markets continued on Friday after suffering their worst quarter since the onset of the Covid-19 pandemic, as a weaker performance on Wall Street and Asia overnight hammered sentiment again.
Asia shares were lower on Friday on the back of a lower Wall Street and a quarterly report from Japan’s central bank showing weaker business sentiment.
Oxford Biomedica has signed a new three-year deal to make AstraZeneca’s Covid-19 vaccine beyond this year when the original agreement expires, the company said on Friday.
European shares slumped at the open on Thursday after warnings from central bankers that inflation would be more persistent than originally thought, sparking fears of a recession.
National Grid is asking UK companies how much electricity demand they will be able to cut next winter to help keep the lights on, Bloomberg reported, citing documents.