By James Sillars, business news reporter There is no real prospect of a new record high for the FTSE 100 today.Stock markets have widely taken fright at the prospect of US interest rates remaining higher for longer, after further evidence of resilience in the world's biggest economy yesterday.Energy stocks led the FTSE lower at the open - falling 1.3% to 7,862.Sentiment in London was not improved by data from the ONS that showed UK wage growth remaining stubbornly high.
LSEG data showed a flurry of bets away from June for the first rate cut and towards August instead.Across the market more widely, shares in Superdry were 25% down as it confirmed a story by Sky News yesterday that it had launched a restructuring plan that would result in rent reductions for some of its stores.It also planned an equity raise, which it said would allow it to delist from the London Stock Exchange.One other piece of market data to flag: the cost of oil.
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Source: SkyNews - 🏆 35. / 67 Read more »