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FTSE 100 marks time as investors mulled the potential end of Boris’ time as PM and surging UK prices

FTSE 100 marked time as investors mulled the potential end of Boris Johnson’s time as PM and surging UK prices. The index rose 3 to 7,567 in early trades.

UK inflation has risen to its highest level for 30 years. December’s consumer price index rose by 5.1% compared to the previous month and higher than economists’ expectations.

Luxury goods group Burberry said annual profits would rise by around 35% after a strong third quarter performance. Analysts had been expecting an increase of around 19%

New 5G services in the US have been delayed amid interference concerns with flights cancelled due to the fears. Airlines want the new protocol to be banned within two miles from US airports.

Among the small caps, the Wressle oil field in Lincolnshire, part-owned by AIM-quoted Europa Oil & Gas and Union Jack  could see greater returns if facilities constraints on gas production can be alleviated. That’s the key finding in a report authored by consultant ERCE which carried out an analysis of down-hole pressure data in December.

Also on the oil front, Eco Atlantic has increased its interest in JHI Associates, a junior explorer offshore Guyana, which is partnered with Exxon in the Canje Block. It takes Eco’s stake in JHI to 7.35%.

Pan African Resources produced a record amount of gold in its latest half-year and reiterated its target of 200,000oz for the current twelve months. Interim output rose by 9.9% to 108,000oz.

Read More: FTSE 100 marks time as investors mulled the potential end of Boris’ time as PM and surging UK prices

2022-01-19 04:46:00

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